Manchester United

Manchester United reveal drastic increase of wage bill to £354m per year

By Amreen
The additions of Jadon Sancho and Cristiano Ronaldo have seen Man United's wage bill rocket
The additions of Jadon Sancho and Cristiano Ronaldo have seen Man United's wage bill rocket / Chloe Knott - Danehouse/GettyImages

Manchester United have released their finances for the first quarter of 2021 and have revealed a significant bump in their wage bill.

United signed Jadon Sancho, Cristiano Ronaldo, and Raphael Varane during the summer and their playing staff budget has increased to a whopping £354m a year. The newly-added players have contributed to a huge role in the 23.1 percent jump in wages.

They also revealed that the club's revenue for the quarter increased from £109m in 2020 to £126.5m following the return of fans to Old Trafford. The Red Devils also saw a boost in their transfer earnings, following the £17.4m sale of Daniel James to Leeds and the sell-on clause triggered by Romelu Lukaku's transfer from Inter to Chelsea.

Speaking on the club's financial report, executive vice-chairman Ed Woodward said: "While these financial results today demonstrate our resilience through the pandemic, our top priority is success on the pitch. The manager, players and everyone at the club are determined to achieve that objective."

United are currently struggling in the Premier League, sitting sixth on the table, nine points off leaders Chelsea. They have already been knocked out of the Carabao Cup, but sit atop their Champions League group with two games remaining.

Back-to-back home defeat to bitter rivals Liverpool by 5-0 and Manchester City by 2-0 have left Ole Solskjaer’s job hanging by a thread. However, the club have insisted that they are fully behind the Norwegian and have no plans to sack him in the near future. Meanwhile, Brendan Rodgers has been linked to the hot seat, and reports of late have claimed that he would be interested in the job.