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Manchester United Have Borrowed £60 Million Because Of Impact Of Covid-19

Manchester United Have Borrowed £60 Million Because Of Impact Of Covid-19

Manchester United have shown how they've been hit by the Covid-19 pandemic, by having to borrow £60 million due to the impact on their finances.

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Football clubs around the world have obviously been hit by the pandemic with no fans allowed in stadiums for the past year in most places.

The last time any fans stepped foot in Old Trafford was for United's win in the Manchester derby on March 8th last year, with Scott McTominay's long range goal the final piece of action seen in almost exactly a year.

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Back in December the club confirmed that matchday income had fallen 94.2% to £3.2 million over the previous six months, a hell of a loss in revenue.

The overall reduction was only lowered by the club's return to Champions League football at the beginning of the season, something that didn't last too long.

They have now confirmed that they've had to borrow £60 million due to the "near-term challenges" that mean no fans will be in grounds until the last weekend of the season, when United are away.

McTominay and the fans celebrate the last moment at Old Trafford in a year. Image: PA Images
McTominay and the fans celebrate the last moment at Old Trafford in a year. Image: PA Images
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Speaking about the future return of fans, Ed Woodward said, "We are seeing some positive examples around the world of live events with reduced capacity crowds with social distancing.

"The successful rapid rollout of vaccines and falling rates of infections in the UK makes us optimistic about the government's road map out of the lockdown, including plans for the gradual reopening of sports stadiums with spectators, beginning this spring.

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"Initially, this will be with limits on capacity, but we're hopeful of crowds ramping back up to full capacity next season."

United are in second this season but are 14 points behind rivals Manchester City so it's almost certain they will go eight years without winning the Premier League title, since Sir Alex Ferguson retired in 2013.

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Fans will be hoping that a few additions in the summer to help boost any chance of fighting for the title next season, but it might not be so easy.

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Ole Gunnar Solskjaer warned fans this week that Covid-19 might restrict their spending power in the transfer window.

"The pandemic is definitely affecting everyone in football," the manager said in his pre match press conference on Tuesday.

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"Of course the lack of income, the finances has affected everyone. It might affect us all well.

"We have to be realistic and responsible in the way we do our business both on and off the pitch.

"There are improvements on the training ground, stadium - we have to look at the whole picture. Where can we spend the money? And how much is there? It's just the real world now. It has changed.

"I think there's just going to be less and less transfers happening in the world of football with all these changes."

Featured Image Credit: PA

Topics: Football, Manchester United, Premier League

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Ryan Sidle

Ryan is a writer for SPORTbible. He covers all sport from football, formula one, cricket, rugby, tennis, athletics, mma and wrestling. He obviously hates YOUR football team and has no interest in synchronised swimming.