Friday, May 26, 2017

Manchester United debt biggest in Europe by €200million

SoccerNews in General Soccer News 12 Jan 2017

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Manchester United have €200million more debt than any other European football club, according to new figures released by UEFA.

The Club Licensing Benchmarking Report from European football’s governing body, which covers the 2015 financial year, lists United’s debt to be €536m – significantly more than the next club on the list, Benfica, with €336m.

United’s figure is also an increase of 25 per cent on the previous 12 months, bucking trends across Europe of falling debts year-on-year for the past five years that UEFA attributes in part to its Financial Fair Play regulations.

Mounting debt under the stewardship of the Glazer family, who controversially bought the 20-time English champions in 2005, has long been a source of anger among significant sections of the Old Trafford fanbase.

UEFA’s report seeks to place debt figures in context and the fact United’s debt is broadly in line with their 2015 revenues of €521m – the third largest in world football behind Real Madrid and Barcelona –  and is 80 per cent of their long-term assets means they are not a high-risk case.

The worst-off clubs in this regard are Queens Park Rangers, now of the Championship, whose €279m debt is 480 per cent of their long-term assets, and Fenerbahce, with €166m at 610 per cent.

Additionally, the falling value of the pound has impacted upon United’s debt, despite the club posting record revenues of £513m this year.

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