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Brexit Has Already Managed to Cost Manchester United An Awful Lot of Money

Brexit Has Already Managed to Cost Manchester United An Awful Lot of Money

Wow!

Anonymous

Anonymous

Manchester United are undoubtedly going through one of the more trying times in their long and illustrious history but the club's hierarchy have been faced with a problem they could never have imagined: Brexit.

May's FA Cup final win over Crystal Palace aside, there hasn't been a lot for United supporters to get excited about, expect when it comes to big-money transfers, although they may become a thing of the past if the club's latest financial results are anything to go by.

According to the Manchester Evening News, June's Brexit vote for Britain to leave the EU has hit United's coffers particularly hard because its debt it primarily held in America.

Since 2005, the club has been paying back hundreds of millions of pounds borrowed to finance the Glazer family's purchase - and it now seems the overall debt has risen by a whopping 18% since the value of the pound started plummeting.

The debt has now reached £338m in the first quarter of their financial year, whilst matchday revenue at Old Trafford was £16.8m, down £8m, due to United three fewer home games.

Altogether, total revenue figures for the latest quarter stood at £120.2m, representing a drop of 2.8%.

So, despite being lauded as one of the biggest and richest clubs in the world, it seems that not even Manchester United have been unaffected by the Brexit result.

Do you think it could have an impact on transfer spending?

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Topics: Manchester United