Man Utd owe more than £1bn after latest borrowing

Manchester United incurred an additional £105 million in debt to support their summer transfer spending, raising their total debt to nearly £1.1 billion. This was disclosed in club accounts released on September 17, 2025, covering up to June 30, 2025, with further details provided to the New York Stock Exchange on September 18.

The club spent £167.8 million on new players after June 30, 2025, including signings such as Bryan Mbeumo from Brentford on July 21, Benjamin Sesko from RB Leipzig on August 9, and Senne Lammens from Royal Antwerp on September 1. Additionally, they had already acquired Matheus Cunha from Wolves for £62.5 million in June.

As of June 30, 2025, Manchester United's debt stood at £637 million, comprising historic senior secured notes and a secured term loan from the Glazer takeover in 2005, along with a revolving credit facility that was recently increased by £50 million to £350 million. Between July 7 and September 11, the club drew down an additional £105 million from this facility, bringing the total accessed to £265 million and increasing the overall debt to £742 million.

When including £447 million owed in transfer fees, with £205 million due after one year, and accounting for £102.61 million owed to the club, the total debt reaches £1.087 billion. This practice of staggering transfer payments is common in the Premier League.

Despite poor on-field performance, the club announced record revenue, aided by cost-cutting measures from minority shareholder Sir Jim Ratcliffe, which reduced losses from £113.2 million to £33 million. However, the lack of success is hindering further financial improvement. Last season, they earned £43.7 million from reaching the Europa League final, but with no European income this season, expected revenue is projected between £640 million and £660 million.