Manchester United have borrowed an additional £90 million since 30 June 2026, taking the club’s overall debt to more than £1.1 billion, according to a detailed filing submitted to the New York Stock Exchange on Thursday, September 24, 2026. The confirmation follows the release of United’s 2025-26 annual accounts, which revealed record revenues of £677.6 million and an operating profit of £22.6 million, yet still produced an overall loss of £43 million — the club’s seventh consecutive annual loss .
Breakdown of the Debt
United’s total debt of approximately £1.15 billion comprises three main components: the historic debt of £578 million, the £200 million outstanding on its revolving credit facility, and £375 million in outstanding transfer fees. The club confirmed it made three drawdowns from its revolving credit limit on 29 July, 31 July, and 28 August, totalling £120 million, before repaying £30 million on 21 September. Of the outstanding transfer fees, £104.8 million is due between one and two years, £51.9 million between two and five years, with the remainder due within the next 12 months .
Summer Transfer Spending and Unclear Costs
The filing also confirmed United spent £191.7 million on new players during the summer window, a figure notably higher than the £153 million the club publicly stated when announcing the signings of Andrey Santos from Chelsea (13 July), Youri Tielemans from Aston Villa (14 July), and Carlos Baleba from Brighton (25 August) . The additional £38.7 million is understood to cover associated costs including agent fees, the four percent Premier League levy, and academy signings such as Tynan Thompson from Tottenham . It remains unclear precisely how the remainder was allocated, and the club has been approached for comment.
Rising Interest Costs and Stadium Investment
Net finance costs for the year reached £69.6 million, an increase of 228.3 percent compared to the previous year, primarily driven by foreign exchange losses on unhedged USD borrowings and interest rate changes linked to the Glazer family’s leveraged takeover in 2005 . Football finance expert Kieran Maguire noted that net finance costs alone have now exceeded £1 billion since that takeover . Additionally, United confirmed it spent £63.5 million of an additional $125 million added to its historic debt during a summer refinancing move on land for its proposed new 100,000-seater stadium, which is expected to cost in excess of £2 billion.
Official Response
Chief executive Omar Berrada addressed the results in a statement, saying: “We are pleased to have secured record revenues and adjusted EBITDA, which demonstrates the underlying strength of our business, particularly in a season without European football. This shows the direct impact of the work we have been doing over the past two years” . He added: “While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable” . Berrada also highlighted commercial developments, including Betway as the new training kit partner and SumUp as the new sleeve partner, alongside existing partners adidas and Snapdragon.