Man Utd’s debt rises AGAIN as worrying numbers paint grim picture for Sir Jim Ratcliffe

View 2 Images

Manchester United’s debt continues to soar upwards despite major cost-cutting by Sir Jim Ratcliffe . The Ineos owner purchased a stake in the club two years ago and has attempted to cut the club’s cloth accordingly.

There have been two rounds of major redundancies at the club , while staff perks have also been slashed. Despite those brutal decisions, the club’s debt continues to rise under its current ownership.

According to the club’s latest accounts, United’s total amount of borrowing sits at a staggering £777million. £295m worth of that is payable within one year.

Elsewhere, the Red Devils also owe a further £422m in transfer fee instalments for incoming recruitment. Worryingly, £238m is due within the year.

Combined, that puts United’s debt at a total of around £1.3billion. On the club’s latest results, CEO Omar Berrada said: "We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability.

View 2 Images

MAKE THE MIRROR YOUR FIRST CHOICE! Click here to activate or add us as Preferred Source in your Google search settings

"We continue to take a football-first approach and today's results demonstrate the underlying strength of our business as we continue to push for the best football results possible for our men's and women's teams."

On the club’s cost-cutting, minority owner Ratcliffe has said: "It [the abuse] can be unpleasant. And I've probably failed on the having fun front. I mean, I can put up with it for a while. I don't mind being unpopular because I get that nobody likes seeing Manchester United down where they are, and nobody likes the decisions we're having to make at the moment.

"If I draw a bit of the ire, I can put up with that. But I'm no different to the average person. It's not nice, particularly for friends and family. So, eventually, if it reached the extent that the Glazer family have been abused, then I'd have to say, look, enough is enough guys, let somebody else do this.

FOLLOW OUR MAN UTD FB PAGE! Latest United news and more on our dedicated Facebook page

"They can't really come to a match, the Glazers. They've retreated into the shadows a bit now, so I'm getting all the bloody stick. We bought in and I haven't seen them since.

"It's, 'Thank you, Jim, you're doing a really good job.' At the moment, I don't have security, I don't have to walk around like that. But it would defeat the object, wouldn't it? You couldn't tolerate it at that level, it just wouldn't be fun."

United currently sit fourth in the Premier League after a season in which they have sacked Ruben Amorim . Michael Carrick was appointed as his replacement in January.

Content cannot be displayed without consent