English Premier League Giants Manchester United To Reduce Spending In Upcoming Transfer Windows

Manchester United are expected to reduce their activity in the transfer market in the coming windows, one of the club’s senior executives said on Thursday, following a squad overhaul following the arrival of new manager Erik ten Hag. (More football news)

United have been one of the biggest spenders in Europe during the summer transfer window, spending approaching $250m on players such as Antony, Casemiro and Lisandro Martinez.

The 20-time English champions recorded a net loss of 115.5 million pounds ($130 million) for the 2021-22 season, with the net debt of their unpopular owners – the Glazer family – rising by 95.4 million pounds ($107.5 million) to 514.9 million pounds. ($580 million). That’s a 22% increase.

The influx of new players is starting to take effect, with United winning their last four English Premier League games after opening with back-to-back defeats that have put Ten Hag under some pressure.

“We will continue to support Erik by ensuring he has players with the quality and character needed to succeed, while ensuring that the investment remains in line with our commitment to financial sustainability,” said John Murtough, United’s director of football, on an investor call.

“Overall, we are ahead of our recruiting plans as expected at the start of the summer, and we do not anticipate the same level of activity in the next windows.” United’s chief financial officer Cliff Baty said the club’s financial results had been affected by the absence of a summer tour in July 2021 and the impact of the weaker pound on certain non-cash financial costs .

United’s revenue rose 18% to 583 million pounds ($657 million). Baty said the club expects to have revenues of 580-600 million pounds ($655-677 million) for the next financial year despite the team being in the Europa League this season and not the Champions League, more lucrative.

Following the 2021 signings of Cristiano Ronaldo, Jadon Sancho and Raphael Varane, United’s wage bill rose 19.1% to 384.2 million pounds ($433.6 million) – the highest in the Premier League according to the latest figures published by the clubs.

Payments to managers Ole Gunnar Solskjaer, who was fired in November, and Ralf Rangnick, who replaced Solskjaer on an interim basis and then did not take on a two-year advisory role at the end of the season, and their staff Associate Coaches contributed to the cost of “exceptional items” amounting to 24.7 million pounds ($27.9 million).

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