Manchester United have taken on an extra £90m in borrowing since the end of June, pushing the club’s total liabilities beyond £1.1bn. In a filing submitted to the New York Stock Exchange on Thursday, the football club confirmed that its overall debt now stands at £1.15bn, even as significant cost-cutting measures introduced by minority owner Sir Jim Ratcliffe continue to be implemented.
The financial disclosure also revealed that Manchester United spent £191.7m on new players during the current transfer window. The acquisition of Andrey Santos from Chelsea, Youri Tielemans from Aston Villa, and Carlos Baleba from Brighton has drawn attention due to a discrepancy in reported fees. While the initial transfer announcements totaled £153m, the club’s total summer expenditure was £38.7m higher than that figure.
According to the NYSE filing, United executed three further drawdowns from its revolving credit facility on 29 and 31 July and 28 August, amounting to £120m in total. The club subsequently repaid £30m on 21 September.
The £1.15bn debt figure is composed of several components: historic debt valued at £578m, £200m remaining on the revolving credit facility, and £375m in outstanding transfer fees. Although the amount owed for transfers represents a £72m decrease compared to the £447m reported in the 2024-25 accounts, the sum remains substantial. Of the transfer fees, £104.8m is due between one and two years, £51.9m falls due between two and five years, with the remainder payable within the next 12 months. The club stated that payments for its most recent signings are scheduled to be settled within the next five years.
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