Man Utd's debt burden remains above one billion pounds despite cost-cutting

The accounts show United recorded record revenue of 677.6 million pounds and an operating profit of 22.6 million pounds, despite missing out on European football for the first time in a decade. That represents a significant improvement from the 113.2 million pounds loss reported for 2023-24.

However, net finance costs surged by 228.3% to 69.6 million pounds, with United attributing most of the increase to foreign exchange losses. Football finance expert Kieran Maguire said cumulative finance costs have now surpassed 1 billion pounds since the Glazer family's leveraged takeover in 2005.

United also revealed that 63.5 million pounds was spent acquiring land for a proposed new stadium, which is expected to cost more than 2 billion pounds and be located 350 yards from Old Trafford. The club borrowed a further 94.14 million pounds during a summer refinancing, but has not detailed how the remaining funds were used.

The historic debt stands at 577.6 million pounds, while 111.4 million pounds remains outstanding on its revolving credit facility.

"We are pleased to have secured record revenues," said chief executive Omar Berrada.

"This demonstrates the underlying strength of our business, and shows the direct impact of the work we have been doing over the past two years.

"While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable.

"With that financial sustainability in mind, we have strengthened both our men's and women's teams during the summer window and our men's team has seen the return of Champions League football to Old Trafford."

Meanwhile, supporters continue to protest over investment decisions. United spent 148 million pounds on Carlos Baleba, Andrey Santos and Youri Tielemans, while fans wanted another left-back and additional striking cover for Benjamin Sesko. The club are currently 12th in the Premier League and have already exited the EFL Cup.