"Manchester United's net debt has surpassed the $1billion mark for the first time, driven by increased borrowing over the summer to fund player recruitment. The club's latest financial figures show overall debt at its highest point since the Glazer family completed their takeover in 2005. In the first-quarter accounts released on Thursday, United reported £481 million ($644m) in noncurrent borrowings, reflecting the long-standing debt accumulated since the leveraged buyout two decades ago."
"INEOS Group, headed by Sir Jim Ratcliffe, became minority shareholders in February 2024 after purchasing a 27.7% stake for £1.3 billion. Since arriving, Ratcliffe and INEOS have initiated an extensive cost-reduction programme designed to stabilise operations and improve financial efficiency across Old Trafford. United recorded a £13m operating profit for the opening quarter of the season, a notable improvement on the £6.9m loss during the same period last year."
Manchester United's net debt rose above $1.002bn (£749m) after summer borrowing for player recruitment, reaching the highest level since the 2005 Glazer takeover. The club reported £481m in noncurrent borrowings and took an additional £105m from its revolving credit facility, with total borrowings reported at £268m. INEOS bought a 27.7% stake for £1.3bn in February 2024 and launched a cost-reduction programme to stabilise operations and improve financial efficiency. United posted a £13m operating profit for the opening quarter, reversing a £6.9m loss a year earlier, while revenue fell 2% to £140.3m amid no European competition.
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