Manchester United 's net debt has broken the $1 billion barrier for the first time due to summer borrowings for player recruitment, taking the club's overall debt to its highest level since the Glazer family takeover in 2005.

In the club's first-quarter accounts published Thursday, United's noncurrent borrowings -- debt mountain built since the Glazers' leveraged takeover -- were reported at £481 million ($644m).

But with United using a further £105m from their revolving credit facility -- an additional borrowing mechanism -- to take their total borrowings to £268m, United's total net debt has grown to £749m ($1.002bn). United have been servicing their huge debt since the Glazers, the owners of the Tampa Bay Buccaneers NFL franchise, bought the previously debt-free club 20 years ago.

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