Manchester United have published their financial report for Q2 and, surprise, surprise, they still owe absolutely tonnes of money.
Sharing the figures for the three months leading up to 31 December on Thursday as we approach the end of the tax year, the club revealed that, in total, the club still owe just shy of £1 billion in various outstanding sums.
Not only does this mark nearly 18 years of debt since the Glazer leveraged buyout in 2005, which immediately put them in over £500 million’s worth of debt, but it also means that the total amount has grown larger and the chances of an imminent takeover are now even more likely.
Breaking down the figures into different sections, Sky Sports News’ Kaveh Solhekol explained how although’s United principal debt remains at approximately $650m, a change in the exchange rate meant they owed £535.7m compared to £477.1m at the same point in the previous year. It’s still growing…
🔴 Breakdown of Manchester United's Q2 financial figures
📈 Debt up to £535m 📈 Borrowed £206m – totalling £741.9m ❌ Glazer family will not be taking a dividend in this quarter 📉 Wage bill is down 21% – decrease of £20.4m
In case you weren’t aware of just how much United still owe…
Through a combination of gross debt, bank loans and transfer costs with associated fees still yet to be paid, the club owe a whopping £969.6m in outstanding sums. Crikey.
ADVERTISEMENT
On top the flat rate of debt, £206.2m has been taken from a rolling credit facility (various loans), with another £227.7m owed in outstanding transfer fees, having spent £211.5m on incoming players last summer and a further £49m in the January transfer window as well.
On the other side, despite an increase in debt has increased and overall revenue dropping by 10%, commercial revenue is said to have increased by 43.2% from just £6.3m to over £50m.
ADVERTISEMENT
The board have insisted to the BBC that figures are evidence of a “stretched” financial situation and that income such as ticket sales are looking as “impressive” as ever. However, it is also worth noting that wages have only gone down mainly because the team dropped out of the Champions League.
Furthermore, although none of the Glazer family members took out a dividend for the first time in six years, they also failed to have an investors’ call following the latest financial statement given the ongoing discussions with bidders looking to buy them out.
There are still said to be as many as eight candidates looking to buy the club, with Sir Jim Ratcliffe and the Qatari’s still leading the race — though new legislation on ‘fit and proper’ owners soon to be brought in by the Premier League could prove problematic for the latter given their human rights record.
Elsewhere, one of the other bidders is Finnish businessman Thomas Zilliacus, whose approach to buying the club is an interesting one, to say the least, and while potentially ‘debt free’, it would take some doing.
The proposal even involves an app where fans will 'control club decisions'.https://t.co/Im5qgDyyOC
Tributes pour in as former Rochdale and Bury midfielder Joe Thompson dies at just 36
Danny Jones
Awful news to share with you this bank holiday, as former Rochdale and Bury FC midfielderJoe Thompson has sadly passed away. He was just 36 years old.
Born in Bath, he spent time at both Man United and Rochdale’s academies before representing the first team, as well as representing fellow Greater Manchester club Bury and other teams in the North West – a region where he built a life with his partner and his two kids.
The ex-pro ultimately had to retire from football following a long battle with cancer, having been given the all clear from stage four lymphoma (a type of blood cancer) twice before during his playing days, before tragically receiving a heartbreaking third diagnosis last April.
News of his death broke on Good Friday, 18 April, having “passed away in the early hours of Thursday morning”. His wife Chantelle and eldest daughter Thailula shared a lengthy and heartbreaking statement on social media.
Confirming that he passed surrounded by his family, they wrote: “Joe has made such an impact on so many people and we are all forever grateful for him blessing us with his presence and for being so strong and staying with us as long as he did against all the odds.
“He was the most Incredible husband, son, brother, friend and father to our beautiful daughters, who will now carry his light and legacy on, and I will continue to keep filling them up with Joe’s love every single day […] I know he will be deeply missed by everyone and the world will not be the same without his contagious energy.”
Addressing their followers directly, who have been unwavering in their support for Joe and his family over recent years, The Thompsons went on to add: “Long may his legacy and impact live on! Thank you to everyone who has been a part of this journey with us… We are all forever grateful.”
They also announced that his funeral will be an open service to allow others inspired by his story, charity work, from his Dale days saving the club from relegation and more to pay their respects, with more details to follow soon.
Countless figures from around the footballing world have joined the likes of the Red Devils and his other former clubs in paying touching tributes to the inspiring individual.
A man who epitomised our club's values ❤️
We are saddened to share that Joe Thompson has passed away.
A warm personality who had a deep connection with our club from a young age, our thoughts are with Joe's family and friends at this difficult time. pic.twitter.com/40ddQpyRTi
Very sad news, to battle cancer once is extremely brave but to battle it three times is not just brave but you need a strong mindset and obviously Joe had that to keep fighting. Thoughts with Joe’s family and friends.
Joe and his family were friends with our very own Amy here at The Manc, so it goes without saying that we offer our deepest condolences to his family, friends and everyone whose lives he touched – our thoughts are with all of them at this difficult time.
She said: “To one of the most incredible men I have ever met – Joe it was an unbelievable honour to have known you, you were the light in any room, and I can’t believe we have to carry on in this world without you.
“To the guy with the best laugh and best waves, you will forever be missed.”
Inside Manchester’s new padel club with a Pot Kettle Black cafe and courtside cocktail bar
Daisy Jackson
Padel is the fastest-growing sport in the world, and it’s really picking up speed in Manchester now too with another city centre club opening this month.
The Pollen Club is a little different to the others, in that it’s fully undercover and protected from Manchester’s less-than-favourable weather.
And another thing that makes it a must-visit is the cafe attached to it – a third site for the beloved Pot Kettle Black.
The Pollen Club and Pot Kettle Black have both taken over a prominent city centre spot just off Deansgate, at the foot of the recently-opened Treehouse Hotel.
There are two state-of-the-art padel courts inside, with a mezzanine terrace for enjoy Pot Kettle Black’s offerings.
In summer, there are plans to launch a bar downstairs too, where you can sip spritzes courtside from loungers and swing seats.
The exciting new Manchester padel club will host pop up events, DJ takeovers and an extended evening food offering.
Pot Kettle Black are part of the new padel clubInside Manchester’s new padel club, The Pollen ClubPot Kettle Black are part of the new padel club
And even if you’re not heading inside The Pollen Club, Pot Kettle Black has a grab-and-go hatch facing onto Blackfriars Street, making their delicious coffees, sandwiches and pastries (from their own bakery Half Dozen Other) even more accessible.
Commenting on the opening of the new site, Pot Kettle Black co-owner, Mark Flanagan said: “We’re absolutely thrilled to have opened our third Pot Kettle Black site at The Padel Club. This achievement is a testament to the hard work and dedication of the team.
“After ten years in the city we’ve been enjoying seeing some familiar faces stopping by for a coffee and we can’t wait to get started on our programme of summer events!”
Danny Jones -
31st March 2023 
