Manchester United Football Club (MUFC) could see its debt increase by a further £75m after it was revealed the Premier League club is set to face a rise in interest rates.

According to The Times, the interest rate on a Payment in Kind loan taken out by owners, the Glazer family, in 2006 is set to increase to 16.25 per cent after the club breached the loan's financial rules. Concern has been growing among MUFC fans over the club's debt, while the Manchester United Supporters' Trust (MUST) has accused the Glazers of "wasting" income from season ticket sales on fees and interest.

A MUST spokesperson said: "During the period of the Glazers' ownership they have wasted £437m in fees and interest - more than the total ticket revenue (£398m) for the full 5 year period." Meanwhile, Leicester City Football Club (LCFC) has posted a pre-tax loss of more than £6m for the year ending 31 March 2010, which has been reduced by 57 per cent compared with the previous year.

The Coca-Cola Championship club also reported a fall in turnover as a result of a decline in broadcasting and commercial revenues. Staff costs, however, were reduced by £3.3m. LCFC chair Milan Mandaric said: "We have coped well this financial year in tackling our expenditure in the face of an expected fall in revenue and also the economic crisis. We have reduced the club's losses and significantly reduced our debt position."

Torquay United Football Club of Coca-Cola League Two has revealed that chief executive Colin Lee is to leave the club in the wake of a £600,000 loss for the financial year ending June 2010. A spokesperson for the club said it was "no longer viable to retain the services of a chief executive", with Lee set to go on gardening leave to see out his notice period as part of efforts to reduce overheads.

Elsewhere, Salisbury City Football Club has been demoted by the Football Conference after breaching competition rules demanding that clubs pay all creditors in full by the second Saturday in May. The club, which entered administration during the season, is now set to be relegated two divisions from the Blue Square Premier due to the ruling.

Nick Parker, chief executive of Sheffield Wednesday Football Club - recently relegated from the Coca-Cola Championship - has revealed that there is "little prospect" of Club 9 Sports now investing in the club after a "wholly unacceptable" offer was rejected earlier this month. In a statement, Parker said: "Given that they have made no sensible improvement to it since, there is little prospect of taking discussions with them forward any further."