Debt is up, revenue is down, but does that spell trouble for the Manchester United bank account? Here's what we learnt from today's results
Manchester United have released their latest batch of financial results, which have revealed an spiraling debt and a reduction in revenue, the Old Trafford coffers reel from the loss of Champions League football.
The Red Devils' executive vice-chairman Ed Woodward has been putting a brave face on this morning's figures which cover the 2015 financial year's second quarter:
"Notwithstanding no European football this season, our Revenues and EBITDA remain strong and demonstrate the underlying strength of our business model, with commercial revenues up year over year," he said.
"On the pitch, the team is well positioned to challenge for a top four finish in the Premier League and we look forward to the rest of the season.”
But what do today's numbers tell us? What is the current state of the Manchester United union?
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