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Football | Barclays Premier League

Man United debt drops to $570m



Manchester United's debt dropped by 18 percent as the Premier League leaders floated on the New York Stock Exchange and sponsorship revenue soared.

United's debt dropped to $570 million by September 30 from $639 million on June 30.

With the proceeds of its NYSE floatation, the Glazer family paid off $100 million of bonds.

United recorded a profit of $33 million in the first three months of the financial year compared with a loss of $8 million a year earlier.

Commercial revenue is on course to reach at least $555 million in the financial year after it grew by 24 percent to $68 million in the first quarter.

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