Manchester United executive vice-chairman, Ed Woodward has revealed the Premier League giants’ transfer plan for the near future.
The club executive explained that Manchester United have spent enormous amount of money since Van Gaal has taken over and they are looking to cut back on the spending.
Earlier today, reports emerged that Manchester United’s revenues have taken a 38 million pound hit due to the disastrous season under David Moyes.
Woodward claimed that after the signing this summer, the wage bill is likely to increase by 20 percent that the club will return to normal spending in future.
Van Gaal has spent around 113 million pounds this summer and after the increase in net debt, Woodward is looking to curb the spending.
“We have seen a large number of ins and outs in the last two summer windows,” Woodward said. “We were used to more modest numbers. Maybe we will go back to more normalised numbers.”
Head of corporate finance Hemen Tseayo added: “We expect total staff costs to be up in the high teens in percentage as a result of Champions League participation.”
“We incurred around £97m in net player cap ex [capital expenditure] and for fiscal 2016 we are committed to around £78m,” he added.
With a number of first team players riding out their peak form, it will be interesting to see how Manchester United revitalise an ageing squad. If the Premier League giants do decide to curb their phenomenal spending (excess of 250 million pound have been spent in the last two summer windows), United will have to rely on their youth to fill those gaps.
Question is, can they stay competitive that way?