Financial stability “Manchester United” under threat: the club took a huge loan

In conditions of financial instability caused by a coronavirus pandemic, the 20-time Champions of England “Manchester United” had to resort to borrowing funds in large amounts. The club from old Trafford took a loan of 140 million pounds, reports the Manchester Evening News.

According to preliminary information, the red devils can use these tools for a successful summer transfer campaign.

The club said that the funds necessary for financial flexibility and maintain stability during the crisis caused by the pandemic COVID-19.

Latest financial results United, released last week, showed a decline in revenue from broadcasting, and retail sales and a sharp increase in net debt before 429,1 million pounds.