Ok all of the player sales this summer have been purchased on 2-4 year terms, not one player has been paid up front that means in real terms the club probably paid out no more than £80-100m in actual transfer and Agent Fees.
https://www.nytimes.com/athletic/5340986/2024/03/14/man-united-debt-jim-ratcliffe/
Detailed is what the initial $200m(£154m) cash injection was used for, to pay for the existing credit card debt of the revolving overdraft facility, all documentation in the media on this subject clearly state this was paid to facilitate the ability to move in the transfer window this summer. Without doing serious mathematical equations, the club received circa £85m and spent without add one £187m so £100m net. Not one of these transfers was reported as being paid in one single instalment and vice versa it’s highly doubtful we received more than £30m of that £85m fees for sold players, Agent Fees have to be paid up front and we’re like 15% of £187m, so probably £25-30m.
The club owed approximately £600m in interest debt leveraged by the Glazers £292 m in player instalments that are still due and they have just posted a loss of £70m for last years accounts where the club used money which they did not have to pay the Raines Group commission of £25m for SJR minority buy out.
All this without the mounting interest charges to service the debt leveraged by the Glazers when they saddled the club with monumental debt.
We can not do a £100m transfer for Krava and yes any £100m player wants £300k per week because of his agent is not getting him that he’s not doing his job properly.
Over the last 10 years? The club generated actual profit from 2005-2014, actually made a profit and put it in their cash reserves, this allowed them to renegotiate the leveraged debt and pay some of this off with a bond scheme that matured just before they floated the club on the stock market.
https://www.independent.co.uk/sport/football/manchester-united-glazers-debt-explained-b2145746.html
Ed Woodward was like a kid in a candy shop he immediately assumed that United were the richest football club in the world and at the time they were, so he thought he could bid £100-150m for players, pay ridiculous wages like Sanchez (400k/pw) and he made mistake after mistake that eroded the clubs cash reserves, which allowed them to do deal like Pogba where they were able to pay the full cost with the agent of £135m while Madrid wanted to pay in instalments.
INEOS are very smart operators, we sailed perilously close to PSR this summer and had to sell £85m of mostly home grown talents and get special dispensation on special financial costs this year to not be charged.
Without CL football next season, the revenue reduces from £700m to £600m and that affects what we can do in the transfer market in a huge way. Yes we could sign Edon Zhregrova, he would be a like for like replacement for Jason Sancho as the fee incoming in Summer 25 and the huge difference in wages would make that deal very feasible.
Sancho currently costs £15m per year in amortised transfer value and £13m in wages so that’s £28m per year. If you bought Edon for £30m on a 5 year contract at £6m per year and £120k per week or £6m per year this deal makes total sense but ask yourself this question?
How many players have we bought without PL experience that have been an absolute success in the last 12 years, personally I’d rather buy Brian Mbeumo, E Eze and T Dibbling, we are so far short in this area we need two wide attackers not one, one experienced and one just coming through and both must have PL experience, we don’t have the luxury of time to let players settle in for 2-3 years!
I add the caveat that SJR/Ineos are very wealthy and not flat broke but Manchester United financially are barely off of life support machine!