SportBusiness.com

Man U debt hit £716.5m in 2009

The debt owed by Manchester United rose to £716.5 million in the year to June 2009, accounts published by the Premier League club’s holding company have shown.

Reuters reports that the figure is an increase of £17 million in the year. The holding company, Red Football Joint Ventures Limited, paid interest on the debt of £68.5 million in the year.

The company made a profit of £6.4 million, compared to a loss of £42.7 million the previous year.

Red Football Ventures said its strategy going forward was to maintain the team’s success on the pitch, boost its brand and develop its media rights.