Man Utd borrowing £60m to assist cash flow

Manchester United are borrowing £60million to support the cash flow of the club.

The news was confirmed on Thursday as the Red Devils announced their second-quarter results between December 31 and March 4.

Last year United took out a £200m rolling credit facility as a safety precaution against a significant drop in revenue while the world continue to adjust with the lockdown measures.

read also:Man Utd scout for €44m Bundesliga star

And it is estimated that they have lost over £100m in income as a direct impact of these lockdowns.

On Thursday, the club revealed that their matchday income had fallen 94.2 per cent from £55.2m to £3.2m over the corresponding six months in 2019.

United’s penultimate match of the season, at home to Fulham on May 15, could host fans and executive vice-chairman Ed Woodward is excited about the return of supporters to Old Trafford.

“In the near-term, our focus remains on preparing for the return of fans to Old Trafford,” he said.

READ  DJ Cuppy Spotted With A Mystery Man (Photo)

“Initially this will be with limits on capacity, but we are hopeful of crowds ramping back up to full capacity next season.”

Source link

Leave a Comment