Man Utd net debt drops to OVER £50m amid stunning Cristiano Ronaldo transfer comeback

MANCHESTER UNITED’s debt has shrunk by £50million – their annual financial results were revealed this week.

The Red Devils’ net debt now stands at £419.1m, down from the £474.4m reported last year.

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Ronaldo made a sensational return to the club at the end of the summer transfer windowCredit: Getty

Despite a net loss of £92.2m, much of it can be attributed to the club receiving a non-cash tax charge of £66.6m.

The decrease in their debt is the result of an increase in subscription income and the increased strength of the pound.

Man Utd’s wage bill rose 13.6 per cent to £322.6m, while their total revenue for the year was £494.1m.

They also reported an operating loss of £36.9million, a damning indictment of the impact the coronavirus pandemic has had on football clubs over the past 12 months.

This can be seen in particular in matchday earnings which fell to just £7.1m from £89.8m the previous year.

But with the crowds back and the return of club legend Cristiano Ronaldo, executive vice-chairman Ed Woodward is optimistic about the future.

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He said: “It has been an exciting start to the season at Old Trafford, with a large crowd in attendance for the first time in almost 18 months.

“We were delighted to welcome Cristiano Ronaldo to the club, along with Raphael Varane, Jadon Sancho and Tom Heaton, to further build on the progress our first team has made under Ole.

“This has been made possible by the strength of our operating model, with sustained investment in the team supported by strong commercial revenues.

“All associated with Manchester United can be proud of the resilience we have shown in the face of the challenges created by the pandemic and we look forward to the remainder of the season and beyond with great optimism.”

The figures come after it was revealed last week that Man Utd’s club value soared by £271m following Ronaldo’s return.

The news of the star’s signing sent the stock price up 9.8% at one point before falling back slightly.

Ole Gunnar Solskjaer’s side currently top the Premier League table with ten points from their first four games.

They will face West Ham at the London Stadium on Sunday.


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