MANCHESTER UNITED’s debt has fallen by £ 50million – their annual financial results were revealed this week.
The Red Devils net debt now stands at £ 419.1million, up from £ 474.4million last year.
Despite a net loss of £ 92.2million, much of that loss can be blamed on the club receiving a non-cash tax burden of £ 66.6million.
The decrease in their indebtedness is the result of increased revenue from subscriptions and the increased strength of the pound.
Man Utd’s payroll rose 13.6% to £ 322.6million, while their total income for the year was £ 494.1million.
They also reported an operating loss of £ 36.9million, a damning accusation of the impact of the coronavirus pandemic on football clubs over the past 12 months.
This can be seen in particular in matchday income, which was just £ 7.1million, down from £ 89.8million the year before.
But with the crowds returning and the return of club legend Cristiano Ronaldo, Executive Vice President Ed Woodward is optimistic about the future.
SPECIAL BET – GET RONALDO TO SCORE AGAINST WEST HAM ON 1/30
He said: “It has been an exciting start to the season at Old Trafford, with a big crowd for the first time in almost 18 months.
“We were delighted to welcome Cristiano Ronaldo back to the club, along with Raphael Varane, Jadon Sancho and Tom Heaton, to further strengthen the progress our first team has made under Ole.
“This was made possible by the strength of our operating model, with a sustained investment in the team supported by robust commercial revenues.
“Everyone associated with Manchester United can be proud of the resilience we have shown through the challenges created by the pandemic and we look forward to the remainder of the season and beyond with great optimism.”
The figures come after it was revealed last week that the value of the Man Utd club has soared by £ 271million following Ronaldo’s return.
The announcement of the star’s signing sent the stock price up 9.8% at one point before falling back slightly.
Ole Gunnar Solskjaer’s side are currently at the top of the Premier League table with ten points in their first four games.
They will face West Ham at London Stadium on Sunday.
FREE BETS: GET OVER £ 2,000 IN NEW CUSTOMER OFFERS