Ronaldo sale fires Man United into the black

Manchester United recorded a profit of almost £48.2m last year - thanks to Cristiano Ronaldo.

Without the Portugeuse winger's £80m transfer fee the Premier League champions would have made a loss of £31.8m despite another trophy laden season. The year before last the club lost £21.4m.

As they revealeed their figures United also announced plans to raise £500m through a bond issue in order to refinance its debts, much of which was acquired when the American Malcolm Glazer brought the club in 2005.

He paid £790m for United, but borrowed heavily to do so. Much of that debt was then passed on to the club, and last year United paid out £41.9m in interest on loans of more than £500m which funded the takeover.

United won the Carling Cup and the World Club Cup last year as well as getting to the Champions League final and winning the Premier League. That success helped boost the turnover to £278.5m from £256.2m but the figures suggest that United are still some way from breaking even.

United's figures come a week after it was revealed that their Manchester neighbours, City, announced a loss of £92.6m. ·