Manchester United’s net debt has increased by £71.6
million in the space of three months to £409.3m, the club’s quarterly financial
report has confirmed.
The report, which covers three months up to December 31,
2016, shows that the club’s total overheads rose 27.1 per cent between
September 2016 and the end of the calendar year. This comes despite the new
Premier League TV deal coming into effect, with the gains being offset by the
loss of Champions League revenue.
United have put the loss down in no small part to the
significant drop in the value of the pound since the referendum in favour of
the United Kingdom leaving the European Union, citing the strengthened US
dollar as another factor.
However, United do expect to return record revenues once
more after topping the Deloitte Football Money League for the first time in
over a decade in 2015-16.
In delivering the report, executive vice-chairman Ed
Woodward said: “We are pleased to be competing for the first available trophy
of the season when we travel to Wembley to face Southampton in the EFL Cup
final this month.
“The robustness of our business model continues to be
reflected in our strong quarterly financial results and we remain on track to
deliver record revenues for the year.”
One curiosity in the report is the inclusion of Bastian
Schweinsteiger under ‘exceptional items’, with the German midfielder’s return
to Jose Mourinho’s plans in recent months being reflected in the accounts as a
£4.8m boost to the squad’s value.
Schweinsteiger was excluded from the first team by
Mourinho at the start of the season but has since made a comeback and has been
added to their list of players eligible to feature in the Europa League. United
begin the knockout stage with the first leg of their tie against Saint-Etienne
on February 16.
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