Ed Woodward Discusses Manchester United Financial Results, Wayne Rooney and More

Manchester United executive vice-chairman Ed Woodward has blamed the fallout from the Brexit vote for the 27 per cent rise in the club's debt, which was revealed in the release of the Red Devils' latest financial results.

Per Sky Sports News HQ's Kaveh Solhekol, United's debt is up to £409 million:

However, the club are "on course to post record revenues, with an operating profit of £37.6 million in their latest quarterly results," per David McDonnell and Alex Richards in the Mirror.

Woodward explained that the increase in debt is a result of the collapse of the pound following the Brexit vote in June, per McDonnell and Richards:

"

The gross US dollar debt principal remains unchanged. The increase in net debt is due to the strengthening dollar, with the USD/GBP exchange rate moving from 1.4747 on December 31 2015, to 1.2293 on December 31 2016, resulting in an £88 million increase in gross debt.

Offsetting this were movements of £0.8 million including secured bank loan repayments and an increase in cash and cash equivalents.

"

The Associated Press' Rob Harris provided further details:

Woodward hailed United's progress to the EFL Cup final in his statement—Jose Mourinho's side face Southampton at Wembley on Feb. 26.

He also congratulated Wayne Rooney after the United captain netted a late equaliser against Stoke City last month to become the club's all-time leading goalscorer, per The Times' Paul Hirst:

Back in September, it was revealed in United's financial results that Bastian Schweinsteiger had been written off as an asset, effectively confirming the German's demotion from the first team and the fact that he was not in Mourinho's plans.

However, having returned to United's UEFA Europa League squad, the former Bayern Munich star's return to the fold has also been confirmed financially, per BBC Sport's Simon Stone:

Per Stone, Woodward also said the club are "looking forward to a strong finish" to the 2016-17 season as United aim to secure a top-four Premier League finish while winning the EFL Cup, FA Cup and Europa League.