Manchester United borrows 60 million pounds

English football club Manchester United took out a £ 60m (almost € 70m) loan amid rising net debt during the coronavirus pandemic, the Guardian reports.

Manchester United has gained access to £ 60m of its available £ 200m line of credit to cover its soaring £ 455.5m net debt that the coronavirus pandemic has created. The Red Devils also posted a 2.6% increase in total revenue from £ 168.4 million to £ 172.8 million in the last three months of 2020.

In May 2020, United took out a loan of £ 140 million, which, according to media reports, the club wanted to spend on acquiring new players during the summer transfer window.

Manchester United are second in the Premier League this season with 51 points and 14 points behind leading Manchester City.

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Author: Oleg Ceban
Graduated from University of Oxford. Previously, he worked in various diferent news media. Currently, it is a columnist of the world news section in the Free News editors.
Function: Editor
Oleg Ceban

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