Man Utd are yet to make a signing in the summer transfer window as Erik ten Hag looks to rebuild the side in the months ahead.
There have been signs of impatience from Manchester United fans at a perceived lack of transfer activity in the summer transfer window.
Club sources have been eager to reiterate that the transfer window has only actually been open for five days, though their case is not helped by the on goings at rival clubs, with Manchester City having already signed Erling Haaland and Liverpool soon to add Darwin Nunez to their side.
United’s approach this summer is a patient one, with the club eager to ensure they don’t rush into deals, overpay for players, or sign someone without doing the appropriate background checks to ensure they have the right personality to be a success under Erik ten Hag.
It is only at the end of the window when it will be fair to judge just how well United have done, and whether or not they have made good on their pledge to put things right.
United’s supporters, indirectly, have already been handed some reassurance from chief executive Richard Arnold, who stated earlier in the year that the strength of their commercial operation is helping to fund investment in the club.
“It has clearly been a disappointing season for the men’s first team. Work is well underway to address this, led by our football director, John Murtough, and our new manager, Erik ten Hag,” said Arnold last month.
“Resilience and high standards are core values for Manchester United, and we are determined to achieve better results next season and beyond. Faith in youth is another key tenet of the club and the continued success of our academy gives us confidence in the future.
“Off the pitch, our revenues have continued to recover from the pandemic, reflecting the enduring strength of our commercial operations, which in turn support our ability to continue to invest in the club.”
It is that intended investment which in part explains why United’s value has dropped by over £1.3billion after shares fell to a record low on Monday. The club’s falling stock prices are a reflection of the wider economic fears in the market as well as the intended outlay to overhaul the playing squad and regenerate Old Trafford.
The Glazers’ ownership model continues to attract widespread criticism from supporters given debt dividends will once again be paid to shareholders, including the Glazer family, on June 24, despite the club dealing with a net debt of nearly £500m.
But the club will still be able to invest heavily this summer given that their recovery from the pandemic period has continued to gather pace.
The latest accounts released last month showed commercial revenue has also gone up by 13 per cent, helped largely by the return of Cristiano Ronaldo. Despite calls on social media to boycott the club’s revenue streams last summer, Ronaldo broke United’s daily shirt sale record in less than four hours after it was confirmed he would regain his iconic No.7 shirt.
United will also have plenty more money freed up in regards to their wage budget, with Paul Pogba, Edinson Cavani, Juan Mata, Jesse Lingard, Nemanja Matic and Lee Grant leaving at the end of the month.
Figures released by Spotrac suggest United could save £925,000-a-week from those six players leaving the club, which will lower their wage bill enormously and also free up plenty of funds to reinvest in new additions.
The fact that United will look to cash-in on a number of squad players this summer also means the club will certainly be able to soften the blow of missing out on the lucrative Champions League pot for their sixth-place finish.
United’s club value might have plummeted, but as last summer showed, clever work in the transfer market is one way to combat those issues.