United make total loss of £83.6m

London: Manchester United made a full-year loss of £83.6 million (Dh493 million) due to managing the cost of debt, they said yesterday, giving more ammunition to the many critics of the Premier League club's American owners.

The club, third in the Premier League, posted a record operating profit of £101 million due to increased broadcasting and commercial income but made a loss when interest charges and the cost of restructuring its debt were added on.

Net finance charges for the year to end-June were hit by exceptional items totalling £64.7 million, mostly related to the refinancing of bank loans into a high-yield bond. The news will add to a debate in Britain about club ownership after rivals Liverpool agreed a sale to new owners in a bid to rid themselves of millions of pounds worth of debt which has limited their ability to buy new players.

Gross debt attached to the club, owned by the Glazer family, rose slightly to £522 million.