Manchester United owe £969.6m through a combination of gross debt, bank borrowings and outstanding transfer fees with associated payments, according to new figures.
The club released their second quarter results to 31 December on Thursday.
Unlike previous years, there was no investors’ call afterwards as a result of the ongoing “strategic review”.
This could lead to the sale of the Premier League club.
The review itself is centred on how to meet the club’s long-term capital investment needs, specifically for improvements to Old Trafford and the club’s Carrington training ground, and – it is being stressed – is not due to any issues with short-term liquidity.
Nevertheless, the amount owed the club has grown.
While the principal debt remains at $650m, a change in the exchange rate meant the club owed £535.7m compared to £477.1m at the same point in the previous year.