Manchester United financial results: Debt rises by over £100m as revenue forecasts dip

Manchester United’s net debt has risen by over £100m, with projected revenue for 2020 also dropping, according to a financial statement. The club released a financial statement on Monday morning, posting ​revenues of £135.4m for the first quarter of 2019-20. Commercial revenue was  £80.4m, a 5.9 per cent increase on the previous year. United expect 2020 annual revenue to be between £560-580m - a drop compared to £627.1m for the year ending June 30, 2019. A lack of Champions League participation was the main reason behind the club's wage bill dropping by 8.8 per cent. The club's net debt has risen sharply from £247.1m to £384.5m - an increase of 55.5 per cent. Broadcasting revenue for the quarter was £32.9m, a 23.1 per cent and £9.9m drop on the same quarter the year before. Source- Evening Standard

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