Manchester United’s net debt has risen to an all-time high of £749.2m after the club drew a further £105m from its revolving credit facility, intensifying scrutiny of its leveraged ownership model.
The latest borrowing pushes the club’s overall obligations close to the peak levels seen in the late 2000s, despite years of substantial commercial income and recent equity injections from new investors. While short-term credit lines are commonly used to support day-to-day liquidity and transfer spending, the scale of United’s facility usage underlines the financial pressures created by high wages, infrastructure costs, and continued on-pitch rebuilding.
Crucially, the original leveraged buyout debt taken on during the Glazer family’s 2005 takeover remains effectively unchanged at around £481m, meaning the additional £105m sits on top of a long-standing core liability that continues to generate significant interest payments each year. Analysts warn that unless debt is structurally reduced rather than refinanced or extended through new facilities, a larger share of club revenues will keep flowing to service loans instead of strengthening the squad or upgrading Old Trafford.
