( CNN ) -- Manchester United 's financial state was thrown into stark relief on Thursday after the English club 's American owners revealed a record loss of $ 137 million despite making an unprecedented operating profit of $ 160 million . The disparity of figures is largely caused by interest payments of $ 67 million and a one-off cost of $ 107 million relating to the Premier League outfit 's bond scheme , launched in January to help restructure the debts accrued by the Glazer family in purchasing the 18-time English champions in 2005 . The club produced a record turnover of $ 455 million for the year ended June 2010 , more than double that of local rivals Manchester City , but suffered a big swing from last year 's profit of $ 77 million -- which was largely due to the world-record $ 130 million sale of Cristiano Ronaldo to Real Madrid . However , United chief executive David Gill insisted that the Glazers were not in the same position as fellow Americans Tom Hicks and George Gillett , who have been forced to sell Liverpool due to debts incurred in buying the now ailing five-time European champions . `` We are not a club that needs to sell . We have money in the bank so there is zero pressure on that , no pressure at all to sell any star player whether it is Wayne Rooney or X , Y or Z. I can categorically say that , '' Gill told the UK Press Association . `` There was no desire at all from anyone at the club to sell Cristiano -- he wanted to go , and as a result we managed to extract a world-record fee . The philosophy is to retain and attract the best players . We have £165 million ( £260 million ) in the bank , but in some ways we would prefer to have £80 million in the bank and Ronaldo on the pitch . '' Giggs targets third European crown . Gill was heartened by figures such as those showing that the club has the lowest wages-turnover ratio in the Premier League of 46 % , despite player salaries rising from $ 195 million to $ 210 million . By comparison , Premier League champions Chelsea 's wage bill was last reported at $ 226 million , Manchester City 's is $ 212 million and Arsenal 's $ 175 million . `` There are very good results for the club with records here , there and everywhere but they are complicated with non-cash items and exceptional one-off hits , '' Gill said . `` The United fans should not be concerned . We have a long-term financing structure in place , excellent revenues that are growing , we are controlling our costs and we can afford the interest on our long-term finance . `` In our opinion , if something changed in the ownership , this club will survive and continue -- it is covering the financing cost more than adequately . We still have cash to invest in players and to give good contracts to players , and we are comfortable with the business model . '' While United 's overall debt has risen to $ 830 million , the accounts revealed that the Glazers did not take out any money from the club to service their high-interest payment-in-kind loans of $ 318 million . United 's media revenues rose to $ 167 million but match-day income fell to $ 160 million , reflecting moves by supporters ' clubs to undermine the Glazers by boycotting games . The Premier League on Friday confirmed that Liverpool 's prospective new owners , New England Sports Ventures , have passed the ruling body 's criteria . However , NESV -- who own the Boston Red Sox baseball team -- face a court battle with Hicks and Gillett , who are trying to block the sale agreed by Liverpool 's board this week . Meanwhile , veteran Manchester United goalkeeper Edwin van der Sar has denied reports claiming that he has decided to retire at the end of this season . `` That 's complete nonsense . I do n't yet know whether I will stop or continue after this season . Only in the course of this season will I think about it . Then I will decide and not before . For now I keep my focus on United , '' the 39-year-old Dutchman told website www.sport-promotion.nl .
Man Utd 's owners make record loss of $ 137 million despite operating profit of $ 160 million . Glazer family 's debts incurred in buying English club in 2005 largely to blame . The 18-time English champions ' turnover for year ended June 2010 was $ 455 million . United 's wage bill is only 46 percent of turnover , the lowest ratio in Premier League .