Manchester United announce increase in sterling debt amid potential takeover via IrishTimesSport
Finnish businessman Thomas Zilliacus wants to put fans at the centre of his proposed takeover of Manchester United. Photograph: PAManchester United’s debt increased by £58.6m to £535.7m in the year to December 31st 2022, according to the club’s latest financial results, published against the backdrop of a potential takeover. Debt rose from £477.1m because of the weak nature of the pound against the dollar, with the figure unchanged in US currency at $650m.
Overall revenue was down by 10 per cent year on year, despite an increase of 22.2 per cent in commercial revenue, as a result of not qualifying for the Champions League and the World Cup taking place in November and December. Despite this United posted a profit of £6.3m in the final three months of last year.
Staff costs decreased by £20.4m to £77.3m because of the men’s team being in the Europa League rather than the Champions League and “squad turnover”, according to the results. There was no mention in the report of the sale talks between the Glazers and a number of potential buyers. One bidder, the Finnish businessman Thomas Zilliacus, has said he wants to put fans at the centre of his proposed takeover.
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