Price of Football podcast host Kieran Maguire has explained why Manchester United now owe more than 300million to other clubs when it comes to transfer instalments. The Red Devils have not won the league once since Sir Alex Ferguson left the club back in 2013, only taking one FA Cup, two League Cups and a Europa League into their trophy cabinet since the Scot – heralded as one of the best gaffers, if not the best of all-time – departed a decade ago.
Recent times have shown the gulf between United and the rest of the league, with Erik ten Hag losing eight of his 15 games in charge this season – and two back-to-back 3-0 losses at Old Trafford have seen the club concede three goals in consecutive games for the first time since 1962. But it&aposs not the results that have given Maguire concern for the future – instead, it&aposs the poor transfer planning which has seen United fall behind the rest of the &aposBig Six&apos in terms of financial recuperation.
Speaking on his Price of Football podcast, football finance guru Maguire didn&apost hold back in his scathing criticism of the Red Devils. He said: “Manchester United have published their 2022/23 accounts, and it shows the highest amount of revenue ever generated by a Premier League club in the history of the competition – and they still ended up losing 400,000 per week.
“You ask yourself. If Manchester United, who arguably are one of the top three brands in terms of global followers in the game, if they cant turn a profit, either there is a problem at the club or there is a problem in the industry – I think theres an element of both.
“Have United been spending money? Yes, since Sir Alex Ferguson retired theyve spent close to 1.65bn in respect of transfer fees. When Sir Alex retired, they owed other clubs 34million in outstanding transfer fees, because when you do a deal its done in instalments.
“That figure is now in the region of 300m. It looks as if the Glazers have been using the Manchester United credit card as a means of acquiring players. Where has the money gone? Show me a successful player. Even Bruno Fernandes, one that I always shout out, only plays when hes in the right mood which isnt a particularly good reflection.