By Kieran Maguire

30th Oct, 2023 | 5:46am

Kieran Maguire slams Man United signings after new £50m reveal - 'it is very concerning'

It is ‘very concerning’ that Man United still posted overall losses in 2022/23 despite reducing their wage bill by £50million.

That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the Red Devils have a ‘big issue’ with their recruitment.

United posted their financial results for 2022/23 on Thursday (26 October), revealing record-breaking revenue of £648.4million.

However, despite posting the highest-ever revenue for a Premier League club, the Manchester giants still recorded an overall loss of £42million.

United also posted a huge net loss of £115million in their 2021/22 accounts.

Maguire believes United’s losses in recent years are due to the club spending huge transfer fees for ‘mediocre’ players.

“It is very concerning that Man United are still posting losses,” Maguire told Football Insider’s Sean Fisher.

“I say that because the wage bill was down £50million on the back of Cristiano Ronaldo leaving halfway through the season as well as their failure to qualify for the Champions League.

“That has a significant impact upon bonuses.

“The big issue for Manchester United isn’t the wages – they are only 51 percent of revenue which is excellent.

“The issue is the very high amortisation costs because of the consistent poor recruitment.

“The money spent has been big, but on a qualitative basis, the signings have been consistently mediocre.

“That’s the challenge for the club going forward.

“They had the biggest wage bill in 2022 – it won’t be the biggest wage bill in 2023.

“But they have to address their problems when it comes to recruitment.“

In other news, Sir Jim Ratcliffe set to complete Man United takeover within weeks