The Manchester United business empire was in freefall this morning after the three major credit rating agencies downgraded their risk from triple A to C minus.
The downgrading comes after an embarrassing run of results on the pitch over a few months, which reached a climax over the Christmas and new year holiday period.
Earlier in the season, United were annihilated by their 'noisy neighbours' Manchester City by the incredible score of 6-1.
Since then things have gone from bad to worse, with an exit from the champions league in the group stages after defeat to Swiss side Basle, a cup exit to second tier Crystal Palace.
On New Years Eve, bottom of the Premier League snatched a 3-2 at Old Trafford to overshadow Sir Alec Fergiesons 70th birthday party, and finally last night Newcastle hammered United 3-0.
A United spokesperson said "We're in freefall. It's a disaster for us - on and off the pitch"