Manchester United have overtaken neighbours Manchester City for the highest ever wage bill in the history of the Premier League.
United’s accounts for the 21/22 campaign revealed that they recorded a wage bill amounting to £384 million, which is a new high.
The previous record was set by City in 2021, when they had a wage bill of £350 million.
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United’s huge wage bill last season was partly down to the big money spent on the likes of Jadon Sancho, Raphael Varane and Cristiano Ronaldo.
The mammoth wage bill adds to the worrying news that the club recorded an annual loss of £115.5 million during the 21/22 season.
On Thursday, United revealed their figures which showed an overall revenue of £583.2 million, which is an increase of £89.1 million from the year prior.
However, the club’s net debt is now at £514.9 million, which is £95.4 million more than the £419.5 million from the year before.
This is the second season in succession that United have made a net loss. On the pitch, things didn’t go well last year as they endured a dismal season which resulted in the team failing to qualify for the Champions League.
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The Red Devils recorded their lowest ever Premier League points tally.
The club’s CEO, Richard Arnold said: “Clearly our on-pitch performance in finishing sixth in the Premier League last season fell short of our aims and expectations.
“In response, we have made important and necessary changes, including new leadership for the men’s first team under Erik ten Hag and the strengthening of the playing squad during the summer transfer window.”
Under Erik ten Hag, United had a tricky start to their 22/23 campaign after suffering a shock defeat against Brighton on opening day and a 4-0 humiliation by Brentford.
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However, they now seem to have turned a corner.
Heading into the latest international break, United are currently on a four game win streak, beating the likes Liverpool, Leicester, Southampton and league leaders Arsenal.
In the Europa League, they started sluggishly also as they were beaten 1-0 at Old Trafford by Spanish La Liga side, Real Sociedad on the opening day of the competition.
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A week later they got back on the right track by beating Moldovan side FC Sheriff 2-0.
Next up for Ten Hag and his men will be a mouth watering Manchester derby against champions City.
Featured Image Credit: AlamyTopics: Manchester City, Manchester United, Premier League
