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United debt soars as pound tanks

With the tanking of the pound, Manchester United's debt pile has grown in sterling.   Football finance guru Kieran Maguire comments: 'Manchester United have borrowed $650,000,000 from US banks. When United published their accounts on Friday this was shown using the 30 June exchange rate at £530 million. Using the exchange rate this morning it is now £612 million, an increase of £82 million.'

The authoritative Swiss Ramble has noted: 'Operational decline was exacerbated by the impact of the weakening of Sterling on non-cash finance costs, as unrealised forex losses on unhedged USD borrowings meant that net interest experienced an adverse swing of £75m from £13m recoverable prior year to £62m payable.'

There is a risk of a perfect storm of increased interest rates plus debt repayments in US dollar equivalents.

The collapse of the pound will make British clubs more attractive to dollar buyers, notably existing sports franchises in the US.

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