The cameras are coming to Old Trafford – but behind the scenes, a financial drama is already playing out. Manchester United have agreed a new $550m (£410m) borrowing deal that will see interest rates on part of their debt soar from 3.79% to 5.36%, just as the club prepares to open its doors to Amazon Prime’s fly-on-the-wall All or Nothing series.
The renegotiation, which took more than 12 months of work by the club’s finance chiefs, replaces $425m in bonds that were due to mature on 25 June 2027. United said the money will be used to prepay those notes and for “general corporate purposes”, giving them a little more financial flexibility – but at a significantly higher cost.
“Manchester United agree new $550m debt deal with interest rising to 5.36% as Amazon cameras prepare for All or Nothing documentary.”
United’s third quarter accounts, to 31 March 2026, showed net finance costs of £20.3m for the previous three months and £55.7m for the previous nine months, although the club attributed that to an “unfavourable swing in foreign exchange rates”. The club owed £1.29bn at the end of last year, with additional “liabilities” of more than £500m – the vast majority of which are outstanding transfer fee payments.
In a further move, United have extended the repayment term of their secured loan of $225m (£168m) from 6 August 2029 to 10 June 2031. That loan attracts interest of between 1.25% and 1.75% above the Secured Overnight Financing Rate.
The financing burden comes as United officials are still deciding how to fund their new stadium plans. A 100,000-capacity ground is estimated to cost at least £2bn, and probably more given rising global costs of raw materials and labour. Sources have spoken optimistically to BBC Sport about the prospect of a deal this summer with Freightliner, who own the land United want to build on.
Football finance blogger Swiss Ramble estimated in September 2025 that United had paid £852m in interest alone since the Glazer family completed their leveraged buy-out in 2005.
Now, as the club navigates its debt, Amazon’s cameras will follow United’s 2026-27 campaign. The club are the fourth English top-flight side to sign an All or Nothing deal, following Arsenal, Tottenham and Manchester City. Filming will begin in pre-season, offering “unprecedented access” to the men’s, women’s and academy players and staff at Old Trafford and Carrington.
“Now is the right time to open our doors,” said United’s chief communications officer Toby Craig.
Amazon launched the documentary series in 2016 with the Arizona Cardinals and have since expanded to football, ice hockey and rugby union. Notably, Pep Guardiola’s final two seasons at Manchester City will be documented in a four-part Amazon series expected to launch this summer.
United have brokered a record access fee for any comparable documentary – a rare bright spot as the cost of servicing their debt continues to rise.