All of that has been required even as United continue to make huge sums on a day-to-day basis. In 15 of the past 17 seasons, over £100million cash has been generated from operations. What’s more, £182.8million is payable before the end of June 2026, meaning pressure on United’s cash flow is unlikely to ease in the short term. They drew down a further £105m on their revolving credit facility (RCF) — effectively, a corporate overdraft which bookkeeper manchester aids day-to-day liquidity — between July and September, in part to help meet such large transfer liabilities. On an EBITDA basis — earnings before the impact of interest, tax, depreciation and (principally player) amortisation — United’s £182.8million is close to the mark hit in pre-Covid times, and comfortably a league best.

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• Eight Premier League clubs surpassed £100million in player sales this summer.
• On the other hand, debt remains huge, interest payments continue to hit the bottom line and, for all the talk of cost-cutting, the club remains loss-making.
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We take time to learn about and understand each clients business objectives. Plainly, United’s cash flow couldn’t fund such a venture and no club could fund it without backing from owners or external lenders. For their part, United have been entirely coy about where the money would come from. “As a PLC we can’t speculate too much about the funding,” was the official line from chief executive Omar Berrada.

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• The note went on to highlight that, of the 20 clubs with the highest such revenues, City’s kit and merchandising income comprised the lowest proportion of overall income.
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• There’s a reason Guardiola highlights net spend — that particular measure paints his achievements at City in an even better light — but it does not assess a club’s overall financial outlay.
• The driver there was United’s new in-house e-commerce platform in partnership with SCAYLE, which launched 12 months ago.
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In some quarters, the expectation was that it would go towards paying down United’s significant debt burden, yet the club’s gross Travel Agency Accounting debt has scarcely budged during his first year at the helm. To compete in European competition, United must comply with a couple of different rules, principally ones surrounding squad costs and, again, loss limits. While we project United’s squad cost ratio will land at around 63 per cent this season, well below the 80 per cent limit, the losses side looks rather tighter, which may explain the club’s response to The 1958 fan group. In terms of CFG, a comparison shows that City’s financials comprise a greater proportion of CFG’s income than its costs. CFG’s accounts, like City’s, are audited annually, and each has consistently been given clean bills of health. Where City have benefited significantly is in reaping the rewards of plans laid over a decade ago.