Sir Jim Ratcliffe wants to build a new Old Trafford Manchester United have paid off £120million of debt on the club’s revolving credit facility following Sir Jim Ratcliffe’s investment in the club. Ratcliffe took a 27.7% stake in the club following his purchase of around £1.05bn. However, the 71-year-old pledged a further £235m to the club to be used for refurbishment of the stadium. But United’s financial results on Tuesday showed the club owed £773.
United are looking into plans for Old Trafford’s future However, the club have released further updates on their finances to say £120m of the club’s overall debt has been paid off, taking it down to £653.3m. It means the club’s credit facility is down to £140m, leaving a buffer of £160m in further spending on there should they choose to do so.
Source: Loan Digest (loandigest.net)
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