Man Utd down to last £65M
Manchester United have wiped over £80 million from their cash holdings.
The Guardian reports United are down to their last £65m after wiping £86.7m off their cash holdings this summer. The money was spent on bringing in David de Gea, Ashley Young and Phil Jones to the club during the transfer window while also reducing bond debts.
The quarterly accounts for United's parent company to September this year show a strong performance in their commercial turnover. This has been driven by the pro rata returns on their ground-breaking £10m-a-year training-kit sponsorship deal with DHL.
However, the cash expenses most catch the eye. The departures of Gabriel Obertan, John O'Shea and Wes Brown could not offset the outlay in player trading by much, and the total net spend over the last transfer window was £47.1m. An additional £8m went on buying up areas of land around Old Trafford and about £5m more on refurbishing the stadium, with improvements to some executive boxes.