The worst is yet to come! Manchester United's finances will continue to plummet in the fallout to coronavirus pandemic, warns Ed Woodward as latest figures reveal huge hit to their revenue and £127.4m increase in debt

Manchester United chief Ed Woodward has warned that the worst of the fallout from the coronavirus pandemic has yet to hit the club.

United's latest financial results, released on Thursday, show a drop in broadcasting, matchday and retail revenue, as well as a sharp rise in the club's net debt to £429.1million.

But Woodward admits that the next two sets of quarterly results, covering the majority of the lockdown period and the cancellation of the club's summer tour, will make for even grimmer reading.

'These are unprecedented times,' admitted United's executive vice-chairman.