This is one news that fans from the Red side of Manchester won’t find appealing. Manchester United’s net debt has risen to nearly £130 million following the payment of defender Harry Maguire’s world record fee in cash.
It can be recalled that the England international made the move to Old Trafford from Leicester City in a staggering world-record deal last summer, making him the most expensive defender in the history of the game.
The deal was worth £80m and although clubs normally opt to make transfers in installments, the Old Trafford outfit agreed to pay the fee upfront after months of negotiations for the defender who was Ole Gunnar Solskjaer’s top target at the time.
According to the latest financial results that were released to the New York Stock Exchange, the debt of the Premier League giants rose from £301.7m to £429m.
However, it is understood that the decision to sign Maguire is the key reason for the jump, although the acquisition of Bruno Fernandes which entailed the payment of the first installment of £47 million for his move from Sporting also contributed to the figure.
Regardless, Man United’s gross debt remains at $650m (£531m) even after selling Belgium international Romelu Lukaku to Inter Milan for £74m. It is also understood that the transfer is being paid for in installments.