£800m in, £800m out - Why Man City scandal shines light on Man Utd finances

When they restructured their debt in June, United added $125m (£94.36m) to their main debt. On 23 September, they said £63.5m had been spent on land for their proposed new stadium, the precise funding model for which is still to be determined.Many fans, particularly those who do not want a new stadium, feel that money would have been better invested in Michael Carrick's squad.Yet, as Berrada said, United are taking a 'disciplined approach' on that.In 2025, United had the fifth highest wage bill in the Premier League, at £313m. The absence of European football means that sum dropped to £302m in 2025-26. No other clubs have released their figures yet, but it would be a major surprise if United climbed any higher, meaning Carrick over-achieved by finishing third. United's wages to turnover ratio is 45%. No club had a better figure than that last season.While there are variables and also notable exceptions, including the Old Trafford outfit themselves who over the past decade, have topped the annual salary cost table but not the actual Premier League, and in 2024-25 finished 15th despite those fifth highest wage costs, there is a general correlation between salaries and performance.Yet...