United debts soar to €720m despite huge profit increase

MANCHESTER UNITED have posted the most spectacular profits for any British club — while at the same time being part of its biggest debt. Accounts to June 2008 reveal turnover at the club has risen an incredible 22% to £256.2million (e282m), underpinning a 7.5% increase in profits to £80.4m (e89.4m).

However, Red Football — the umbrella for United and its various offshoots — confirmed a loss of £44.8m (e50m), taking their overall debt to an eye-watering £649.4m (e722.5m).

Critics are bound to pounce on the figure as evidence of an unsustainable financial structure, questioning how it is possible for the Glazer family to make a profit if their losses are so high in a season as successful as the last one.