Manchester United's latest financial results show that the club owes almost £1bn to a combination of gross debts, outstanding transfer fees and bank borrowings.

Manchester United's latest financial results have revealed that the club owes almost £1bn to various sources.

A combination of gross debt, outstanding transfer fees and borrowings from banks totals £969.9m for the 20-time English champions.

The bulk of that figure comes from the club's debt, with changes in exchange rates meaning that they now owe £535.7m compared to £477.1m at the same stage last year, despite the principal debt remaining unchanged.

The Red Devils owe a further £227.7m in outstanding transfer fees, while £206.2m has been taken from a rolling credit facility.

The latest results cover the second quarter to December 31, and BBC Sport claims that the situation has improved since then due to matchday revenues and season ticket sales.

Man United's wage bill dropped from £97.7m to £77.3m, due largely to their failure to qualify for this season's Champions League.

The figures are particularly pertinent this year with the club's owners the Glazer family currently in talks over a possible sale.

Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani are the front-runners to purchase Manchester United, although the Glazers are understood to be holding out for a $6bn (£4.9bn) fee.

As many as eight bidders are thought to have come forward, although the Glazers have not ruled out keeping control over some of the club should their asking price not be met.

Sheikh Jassim's bid reportedly promises to wipe out the club's debt entirely, something Ratcliffe has stopped short of publicly promising.

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