Finance guru: Man United 'burning through cash' amid Richard Arnold confession
Man United have “burned through cash” in recent years and must hit the brakes in order to operate in line with their revenue.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Red Devils’ exorbitant spending habits.
United CEO Richard Arnold recently met with and was covertly recorded by members of The 1958 supporters group to discuss concerns about the club’s direction.
As quoted by The Athletic last Sunday (19 June), Arnold reportedly said he is “not getting the investment [he] needs to make Manchester United great again”.
United have matched Man City as the Premier League’s biggest spenders over the last decade but have fallen well behind in the battle for on-pitch supremacy.
And Plumley forecasts that they will now begin to see fewer glamorous signings at Old Trafford as years of underachievement takes its toll.
Subscribe to Football Insider TV now
“It is close in terms of revenue at the top of the Premier League,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“United do still generate high revenue in the Premier League despite not having the on-pitch success that we have become accustomed to.
“It is largely symptomatic about where they have been and the money they have spent. They have invested near to £1bn over the last 10 years or so.
“They have spent big and that was one of Arnold’s lines. He said they have burned through a lot of cash. It’s arguably a case of not what they can afford. It’s symptomatic of what they have spent.
“It comes back to rebuilding. It’s a signficant investment job but probably a different kind of investment. It will take time and it will likely be a different type of activity in the transfer market than we have seen in the past.”