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.