Sports

Manchester United’s Debt Soars 18% to £338m, Largely Because Of Brexit

We would love to see Nigel Farage go doorknocking in Stretford right now, the absolute twat.
November 19, 2016, 8:03pm
A Manchester United fan shields himself from a massive tsunami of debt being straddled by Nigel Farage // PA Images

Manchester United's club debt has soared 18% to around £338m, with reports suggesting the massive financial hit is largely down to the consequences of Brexit.

The increased total is included in United's latest financial results, as given to the New York Stock Exchange for the first quarter of the new financial year. The Guardian reports that the club's net debt has risen from £286.2m to £337.7m, with the results attributing this to "the strengthening US dollar; with the USD/GBP exchange rate moving from 1.5128 at 30 September 2015 to 1.2941 at 30 September 2016." The exchange rate has been directly affected by Britain's decision to leave the EU.

Brexit isn't the only contributor to United's debt increase, in fairness. The club's revenue over the three months ending 30 September 2016 has decreased by 2.8%, from £123.6m to £120.2m, while operating profit is down by 35%, to 6.2m. These figures have been heavily influenced by the club's failure to qualify for the Champions League.

While there are several smaller financial factors at play, the general overview is that Brexit seems to be sharting all over United at the present time. With the movement in disarray since the culmination of their divisive and regularly misleading referendum campaign, Vote Leave enthusiasts will hope that this gives the Brexit a small popularity boost. Everywhere but Manchester, that is.

Meanwhile, we think the vast majority of us can agree that we'd love to see Nigel Farage go doorknocking in Stretford right now. It's one thing to lie about funding the NHS but, for Mancunians in the Old Trafford area, this could be the last fucking straw.