Manchester United’s debt has risen by 18 per cent to £338m, in part because of the Brexit vote and the consequent worsening of the dollar-pound exchange rate.
Results for the three months to 30 September saw revenue drop by 2.8 per cent while operating profits were down by 35 per cent to £6.2m. This was largely because of the club’s absence from the Champions League.
Manchester United’s debt has risen by 18 per cent to £338m, in part because of the Brexit vote and the consequent worsening of the dollar-pound exchange rate.
Results for the three months to 30 September saw revenue drop by 2.8 per cent while operating profits were down by 35 per cent to £6.2m. This was largely because of the club’s absence from the Champions League.
The club will lose more than £20m in sponsorship income from Adidas next season if they fail to qualify for the Champions League.
Nevertheless, commercial income remains strong at United with a 4.4 per cent revenue growth in the last quarter.