Manchester United have reported their latest quarterly financial results: https://finance.yahoo.com/news/manchester-united-plc-reports-second-110000613.html
Manchester United football net debt, defined as borrowings
less cash plus transfer payables less transfer receivables, which was £12m when
the Glazer family bought the club in 2005, goes through the £1 billion barrier
for the first time, reports football finance guru Kieran Maguire.
The net interest expense for Manchester United in the first six months of the 2023/24 financial year was £35m, taking the total since the 2005 takeover to £942m says Maguire.
Manchester United paid £5.5m for compensation for loss of
office in last three months of 2023. Suspect most/all of that went to former
CEO Richard Arnold. Maguire comments: ‘suspect
those local Mancunians in the Old Trafford staff members whose jobs are in the
line once the suits from management consultants have finished their review of
‘efficiencies’ won’t be getting a £5m payoff.’
Manchester United paid £9.6m in advisory costs in the second
quarter of 23/24 relating to the takeover. The main financial beneficiaries of
the takeover are the Glazer family.
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