Manchester United are reportedly confident of their ability to continue strengthening their squad this summer while reducing their players' wage bill and streamlining other costs.
In results published on Friday, the club reported a pre-tax loss of £3.1 million for the third quarter of the financial year, significantly lower than the £83.6 million loss in the same period last year.
Total operating costs were down 20.4% compared to the same quarter last year, reflecting a reduction in the wage bill due to United's participation in the Europa League instead of the Champions League, as well as the departure of players such as Marcus Rashford and Anthony on loan in January.
The cost reduction also follows a programme to reduce the number of non-playing staff that was initiated last year.
Chief executive Omar Berrada said the club's 15th place finish in the Premier League this season “does not meet our standards” and added that there were “clear expectations for improvement” next season.
Achieving that goal will obviously require changes to the squad, and while sources within the club say United intend to approach any investment made this summer with due care to comply with the Premier League's profitability and sustainability (PSR) rules, the reduction in operating costs alongside a 17.4% increase in revenue does give them scope to act in the transfer market.
The club are close to a £62.5m deal to sign Wolves' Matheus Cunha once his international commitments end, and are also keen to sign Brentford's Bryan Mbeumo, with whom contact has already been made.
For the nine months to date, United reported a pre-tax loss of just under £36m, down significantly from the £89.2m loss at the same stage the previous year.
The club recorded a pre-tax loss of £130.7m last year, raising concerns about compliance with PSR rules which stipulate that unacceptable losses must not exceed £105m over a three-year period.
Sourse: breakingnews.ie
