Man Utd have released their latest financial results for the three months up to and including December 31, 2023.

Manchester United’s debt is currently at £773.3 million, according to the club’s most recent financial data for the quarter ending December 31, 2023.

The club reported substantial revenues of £225.8 million, largely due to their involvement in the Champions League. The financial impact of their early departure from the tournament will be reflected in future financial reports.

Year-on-year revenue increased by 34.9%, and the net profit for the quarter was £20.4 million. Matchday revenues and broadcasting revenue increased by 59.2% and 81% respectively, thanks to the club’s participation in the Champions League instead of the Europa League.

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The financial report also includes the minority investment agreement with Sir Jim Ratcliffe. However, it reveals that the club continues to carry a significant debt load, both in terms of long-term debt and the revolving credit facility used throughout the year.

The long-term debt remained steady at $650 million compared to the previous year. However, due to a decrease in the exchange rate between the US dollar and GBP, the debt decreased from £535.7 million to £506.5 million over the past three months.

The club also utilizes a revolving credit facility, likened to a corporate credit card, which fluctuates based on the “seasonal flow of funds.” The balance on this facility increased due to summer transfer market expenditures and stood at £266.8 million on December 31, 2023, an increase of over £60 million from the previous year.

The financial report also indicates that United incurred £9.6 million in fees related to the strategic review conducted by Raine, which concluded with Ratcliffe’s investment in the club. This amount represents an initial portion of the expenses associated with the transaction, including professional fees for lawyers, accountants, and others involved in the deal. The remaining portion of Raine’s $31.5 million fee will be paid in the third-quarter results.

Cliff Baty, the chief financial officer of Manchester United, stated that the club generated robust revenues in the first half of the fiscal year and reiterated their forecast for record revenues for the entire fiscal year. He expressed excitement about the future of Manchester United following the completion of Sir Jim Ratcliffe’s investment and emphasized the collective focus on working with the new co-owners to advance the club and achieve success on the field.