Manchester United borrow £60m as net debt rises amid Covid-19 pandemic

• Premier League club’s net debt increases to £455.5m
• Ed Woodward hopes for ‘full capacity’ crowds next season

Manchester United have confirmed they accessed a £60m draw-down of their available £200m credit line in order to cover a soaring net debt of £455.5m as a result of the coronavirus pandemic. The club have also announced a 2.6% growth in total revenue from £168.4m to £172.8m in the last three months of 2020.

The modest climb was attributed to a 68% increase in broadcasting revenues to £108.7m, a figure helped mightily by United’s return to the Champions League. “Demand for live football remains strong,” the executive vice-chairman, Ed Woodward, said while announcing the club’s second-quarter fiscal results.

Related: Manchester United revenue shrinks 19% in a year as coronavirus impact felt

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