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Man United debt rises to £455million… but TikTok launch a success

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anchester United‘s debt rose 16 per cent to £455.5million in their latest financial results, with the coronavirus pandemic hitting the club hard.

United revealed their second quarter fiscal 2021 results on Thursday, with debt rising and revenue down 7.2 per cent year-on-year with with profit also dropping by 6.9 per cent.

However, United’s executive vice-chairman Ed Woodward feels progress is being made by manager Ole Gunnar Solskjaer and is planning for Old Trafford to be at full capacity again next season.

On the pitch, United are second in the Premier League table but 14 points behind leaders and rivals Manchester City who they visit on Sunday.

The Red Devils have also progressed into the quarter-finals of the FA Cup and reached the last 16 in the Europa League after they exited the Champions League in the group stage.

“While the disruption to our operations remains significant, we are pleased by the tremendous resilience the club has demonstrated through the pandemic, underpinned by the dedication of our people and the strength of our commercial business,” Woodward said.

“We have been reminded of the importance of football as a source of community, entertainment and pride to fans around the world, even as we have sorely missed them at Old Trafford.

“The progress made by Ole and the players this season is clear and our thriving Academy and Women’s team are also adding to the optimism we feel about the future on and off the pitch.”

United’s revenue was down 7.2 per cent year-on-year to £281.8m with profit dropping by 6.9 per cent to £33.8m.


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