Woodward releases statement as Man Utd net debt soars to huge £455.5million
Manchester United executive vice-chairman Ed Woodward is hopeful that the club are on a "path towards normality" despite posting incredible net debt of £455.5million in their latest set of financial results.
Like all football club, United are feeling the pinch from the impact of the coronavirus crisis, with Old Trafford now being closed to fans for the last 12 months during the UK lockdown.
United's debt has increased £64.2 million in the last 12 months.
Despite that, Woodwood paid tribute to the efforts of both the club's men's and women's teams as they strive for success in both the Premier League and Women's Super League.
“As we approach a full year since our last game with fans at Old Trafford, we reflect on an extraordinarily challenging 12 months for football and society as a whole," said Woodward.
"The rapid rollout of vaccines in the UK and beyond gives us confidence that we are now on a path towards normality, including the return of fans to stadia.
"While the disruption to our operations remains significant, we are pleased by the tremendous resilience the club has demonstrated through the pandemic, underpinned by the dedication of our people and the strength of our commercial business.
"We have been reminded of the importance of football as a source of community, entertainment and pride to fans around the world, even as we have sorely missed them at Old Trafford.
"The progress made by Ole and the players this season is clear and our thriving Academy and Women’s team are also adding to the optimism we feel about the future on and off the pitch.”
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