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Man United will AVOID splashing the cash on transfers despite announcing a 29 per cent revenue increase with net debt up by £52m – with focus on overhauling the club’s recruitment system in Erik ten Hag’s first summer in charge
- Man United will take a disciplined approach in this summer’s transfer market
- The club announced a revenue increase of 29 per cent in their financial results
- However, spending this summer will be cautious to protect the financial model
Manchester United will take a disciplined approach in the transfer market this summer despite announcing a total revenue increase of 29 per cent in the club’s third quarter financial results.
Although the figures once again reflect that business is returning to normal at Old Trafford post-pandemic, the net debt has risen £52million since last year after the club made use of its revolving credit facility to help cope with the effects of the global Covid crisis.
Sources say that United’s £1billion investment in new signings over the past decade is a measure of the club’s commitment to improving the team, but spending this summer will be disciplined to protect the financial model.
Manchester United and new manager Erik ten Hag will take a disciplined approach in the transfer market this summer despite announcing a total revenue increase of 29 per cent
However, the net debt under the Glazer owners has risen £52m since last year after the club made use of its revolving credit facility to help cope with the effects of the global Covid crisis
United will focus on spending their money more effectively on the back of an overhaul of their recruitment system led by football director John Murtough.
Senior scouting figures Jim Lawlor and Marcel Bout have already left the club, chief transfer negotiator Matt Judge has resigned, and more changes to the recruitment system are expected following the appointment of a first director of data science.
New manager Erik ten Hag will play an active role in identifying potential signings, with Barcelona’s former Ajax midfielder Frenkie de Jong emerging as a target. He has also been linked with Ajax centre-backs Jurrien Timber and Lisandro Martinez.
Speaking after the results were announced on Thursday, United chief executive Richard Arnold said: ‘It has clearly been a disappointing season for the men’s first team.
The club have been linked with Ajax stars Lisandro Martinez (left) and Jurrien Timber (right)
‘Work is well underway to address this, led by our football director John Murtough and our new manager Erik ten Hag.
‘Resilience and high standards are core values for Manchester United, and we are determined to achieve better results next season and beyond.
‘Faith in youth is another key tenet of the club and the continued success of our academy gives us confidence in the future.
‘Off the pitch, our revenues have continued to recover from the pandemic, reflecting the enduring strength of our commercial operations, which in turn support our ability to continue to invest in the club.’