MANCHESTER, UK — While Manchester United fans dream of a summer spending spree, the club’s hierarchy is facing a sobering reality. An investigation into the club’s accounts has revealed a £260 million financial “black hole” tied up in players who are largely surplus to requirements under Michael Carrick.
As the club prepares for a massive squad overhaul, the focus is not just on who arrives, but on how to stop the bleeding of funds that have seen United spend nearly £1 billion on transfers since 2021 with minimal return.
The ‘Bomb Squad’ Drain
The scale of the issue is highlighted by five names who represent a combined £230m in transfer fees and over £30m in annual wages:
- Jadon Sancho & Andre Onana: Both high-earners are currently away on loan with almost no prospect of returning to the first team. Sancho’s contract expires in June, while Onana’s future remains tied to a potential permanent move to Trabzonspor.
- Rasmus Højlund: Earning £85,000-per-week, the Dane has been overshadowed by the emergence of Benjamin Sesko. A permanent move to Napoli is on the horizon, but United expect to lose a significant chunk of their original investment.
- Tyrell Malacia: The forgotten man of the “bomb squad” earns nearly £4m annually despite scarcely featuring this campaign.
- Joshua Zirkzee: After a £36.5m arrival, Zirkzee has failed to start a single game under Carrick, becoming a luxury substitute the club can no longer afford.
The Wage Bill Reset
The summer of 2026 marks a pivotal “reset” for the INEOS wage-reduction model.
- Casemiro’s Departure: The exit of the club’s highest earner provides immediate breathing room.
- The Rashford Factor: While Barcelona pays his wages during his loan, a permanent £26m sale would permanently remove a massive salary, even if United hierarchy “regret” the low transfer fee.
Strategic Purge
According to Spotrac and recent financial reports, United have operated with a net loss of over £650m in the last five years. For the next permanent manager, the priority will be clear: sell the “unwanted” to fund the “essential.”
The days of United covering substantial portions of loan players’ wages are coming to an end. This summer, the club must choose between accepting “pennies on the pound” for their £260m investment or continuing to stifle their own rebuild with a bloated payroll.
Ronald Mike is a football writer covering the English Premier League, providing match analysis, tactical insight, and coverage of key rivalries and title races across the season.
