Man Utd's transfer plan revealed after worrying financial results
Suraj Radia
- 23 Sept 2022 14:57 BST
- 4 min read
Manchester United have hinted that they may slow down their transfer business after posting losses of more than £100 million from the last financial year.
Financial results released by the club show that United had a net loss of £114.5m for the 2021-22 season despite revenues rising 18% to £583.2m, while their debt went up more than 22% to £514.9m.
United also have the largest wage bill in Premier League history at £384.2m, beating the £355m set by Manchester City, after the arrivals of Cristiano Ronaldo, Raphael Varane and Jadon Sancho last summer.
With United splashing more than £200m on players this summer, director John Murtough admitted that the club would not be able to continuously spend that kind of money going forward.
Boss Erik ten Hag had previously claimed that United would look towards strengthening in the January window but Murtough insisted that the club would prioritise summer spending instead.
Murtough said: "There is still a long way to go, but we have already seen, during his [Ten Hag] first four months in charge, an increased unity, focus and drive that bodes well for the future."
"Overall, we are ahead of schedule in our recruitment plans as envisaged at the start of the summer, and we do not anticipate the same level of activity in future windows. As always, our planning focuses on the summer window."
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United reportedly doubled their transfer budget following their dismal start to the season which saw the club lose their opening two games to leave them bottom of the Premier League for the first time in 30 years.
Big money acquisitions for Antony and Casemiro were sanctioned by club officials but Ten Hag was still unable to sign all the players he wanted, having previously been keen to bring in a striker, a creative midfielder and a right-back.
United have been linked with January moves for forwards such as Goncalo Ramos of Benfica but Ten Hag is unlikely to have much money to work with despite initial reports of a £70m budget.
Manchester United interest cost £62.2m for 2021/22, mainly due to weakness of £. Takes total interest cost for the club under the Glazers to £886m. Gross borrowings £636 million. Despite the losses the club paid record dividends of £33.6 million in the year #MUFC #Glazernomics pic.twitter.com/FdDI510pBX
— Kieran Maguire (@KieranMaguire) September 22, 2022
The amount of money available to Ten Hag will also likely depend on the future of Cristiano Ronaldo, with the 37-year-old still a potential departure having failed to break into the United line-up this season.
Ten Hag was keen for the club to continue strengthening, telling the media: “We will have many meetings, we have improve the structures in and around the club.
"We will also look to the window in January or next summer already. But, also to improve our way of play by making plans."
Read more about: Premier League, Man Utd, Antony, Casemiro, Cristiano Ronaldo, Gonçalo Ramos, Jadon Sancho, Raphaël Varane
