Manchester United Discloses Significant Expenses for Executive Dismissals as Glazer Debt Exceeds £1 Billion

Manchester United has revealed the substantial costs associated with the departures of manager Erik ten Hag and sporting director Dan Ashworth in their latest financial report. The club spent a total of £14.5 million on severance payments, with £10.4 million going to Ten Hag and his staff, and £4.1 million to Ashworth.

The report also highlighted a 12% decrease in total revenue compared to the previous quarter, largely due to a 42.1% reduction in broadcasting income resulting from the club’s absence from the Champions League. This decline occurred despite an 18.5% increase in commercial revenue, driven by a new shirt sponsorship deal.

Perhaps most notably, the interest payments on the debt incurred from the Glazer family’s 2005 takeover have now surpassed £1 billion, following an £18.8 million payment in the latest quarter. The total debt currently stands at £731 million, with approximately £300 million still owed on player transfers.

CEO Omar Berrada addressed the challenges facing the club, including efforts to improve the men’s team’s league position and ongoing projects to redevelop Old Trafford and the Carrington training complex. He emphasized the club’s progress in cup competitions and the women’s team’s success.

The financial report also revealed that without an £80 million investment from Ineos, Manchester United would have been left with only £15 million in cash. This injection has helped strengthen the club’s balance sheet amid ongoing financial pressures.