Manchester United borrow another £90m as total debt passes £1.15bn

Manchester United have extended their borrowing by an additional £90m since 30 June, lifting the club's total liabilities above £1.15bn. The figure is confirmed in a detailed filing to the New York Stock Exchange and comes a day after the publication of the 2025-26 accounts. Despite the sweeping cost-cutting drive introduced by Sir Jim Ratcliffe, United remain well over the billion-pound debt mark.

How big is Manchester United's total debt

The overall debt stands at £1.15bn and breaks down into three main blocks. Historic debt accounts for £578m, while the revolving credit facility carries an outstanding balance of £200m. On top of that, the club still owes £375m in transfer payments, down £72m from the £447m reported in the previous year's accounts.

Of the £375m committed to signings, £104.8m falls due within one to two years and £51.9m within two to five years. The remainder must be settled in the next twelve months. The club says payments for its most recent arrivals are scheduled across a maximum five-year window.

What the latest revolving credit drawdowns show

Confirmation of the new borrowing appears in the expanded filing sent to the New York Stock Exchange. United made three further drawdowns from their revolving credit limit: two at the end of July, on the 29th and 31st, and a third on 28 August. Together they totalled £120m, with £30m repaid on 21 September, leaving a net additional sum of £90m.

How much Manchester United spent on summer signings

The document also records £191.7m spent on new players during the summer window. Three arrivals were confirmed along the way: Andrey Santos joined from Chelsea on 13 July, Youri Tielemans signed from Aston Villa a day later and Carlos Baleba was announced on 25 August after leaving Brighton.

The fees disclosed when each deal was announced added up to £153m. The total outlay exceeds that by roughly £40m, a gap linked to add-ons, commissions and other standard elements of transfer contracts.

How Jim Ratcliffe's cost cuts fit into the picture

Sir Jim Ratcliffe took sporting control as minority owner in 2024 and immediately imposed aggressive cost reductions across every area of the club. Even so, total debt has barely moved from the levels seen before his arrival, with United still operating above the billion-pound threshold that has burdened the club for years.

Squad spending and the need for liquidity to meet short-term obligations explain why the club keeps relying on a credit line that, while flexible, continues to swell the balance sheet. Transfer debt adds further pressure: more than half of the outstanding £375m is due within the coming financial year.

Old Trafford, an asset in need of maintenance

Old Trafford, the club's historic home, has been dealing with maintenance issues that have become increasingly visible. The wear and tear affecting parts of the ground is one of the ownership's pending concerns, while the club has even sold cubes of pitch turf at £125 each as part of its commercial activity.

Renovating or rebuilding the stadium remains an open debate inside the club. For now, the financial focus is on containing debt and keeping day-to-day operations running, which limits any major infrastructure investment.