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Manchester United explain why net debt has risen by over £120million

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Manchester United saw their net debt rise by 42 per cent in the first three months of 2020 compared to the same period last year.

The club now has net debt of £429.1million, a rise of £127.4million compared to the previous 12 months, but have put that sharp increase down a drop in cash as a result of the COVID-19 pandemic and changes in the exchange rate between the pound and the dollar.

In a statement detailing financial results from January 1 to March 31, the club said: "Net Debt as of 31 March 2020 was £429.1 million, an increase of £127.4 million over the prior year quarter, due to an overall decrease in cash and cash equivalents and adverse movements in the GBP:USD exchange rate.

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