Manchester United borrows £60m to help deal with the impact of coronavirus pandemic as net debt rises to £455.5m in three months, but Ed Woodward is ‘hopeful’ of fans fully returning at Old Trafford next season.
- Manchester United have announced their second-quarter financial results
- The period covers December 31 and March 4 – with United restricted by Covid-19
- It’s estimated they have lost over £100m in income as a direct impact of Covid-19
Manchester United has taken another financial measure in light of the coronavirus pandemic by borrowing £60million.
The news was confirmed on Thursday as the Red Devils announced their second-quarter results between December 31 and March 4.
Last year United took out a £200m rolling credit facility as a safety precaution against a significant drop in revenue while the world continues to adjust with Covid-19 and its limitations.
Manchester United have borrowed £60million due to the impact of the coronavirus pandemic
Like every club, United have been impacted without the lack of fans among Covid’s limitations
And it is estimated that they have lost over £100m in income as a direct impact of coronavirus.
On Thursday, the club revealed that their matchday income had fallen 94.2 percent from £55.2m to £3.2m over the corresponding six months in 2019.
An overall revenue reduction of £22m was limited only because the club played in the group stage of the more lucrative Champions League this season compared to the Europa League.
