Old Trafford club’s debt increased by £25million.
There are fresh calls for the Glazer family to leave Manchester United after the club posted a record loss of £104.6m for the financial year ending June 2010.
The loss is made by Red Football Joint Venture, the Glazer’s parent company that owns United and is an increase of over £20m from the £83m deficit posted by Manchester United plc last October.
The company says the main factors for the loss are the repayment of bank loans totalling £526m and an unrealised currency exchange loss of £19.3m.
The lack of income from selling players also contributed to the loss – the previous year the company had recorded £6.4million profit thanks largely to the £80million sale of Cristiano Ronaldo.
The total debt on the club is now £590.4m, up from the 2009 figure of £566.1m, but chief executive David Gill is not worried.
‘We have money in the bank so there is zero pressure on that, no pressure at all to sell any star player,” Gill said in October.
‘The philosophy is to retain and attract the best players. We have £165million in the bank but in some ways we would prefer to have £80million in the bank and Ronaldo on the pitch.’
The highest loss ever recorded by a Premier League club was Chelsea’s £132million in 2005.