Financial expert identifies worrying change at Man Utd since Sir Alex Ferguson's retirement

Football finance expert Kieran Maguire has identified a worrying trend for Manchester United since the retirement of Sir Alex Ferguson in 2013.

United are one of the richest clubs in world football, and have spent more than £1 billion on transfer fees alone since Ferguson decided to call an end to his days in management.

They have twice broken their existing transfer record since then, with the move for Paul Pogba from Juventus for £89 million standing as their biggest transfer.

That hasn't translated to on-field success, with United having not won the Premier League title since Ferguson's final season in 2013.

Their most recent trophy was won in 2017, part of a season where they lifted three separate trophies under Jose Mourinho.

But United have continued to spend big on transfers and wages throughout their barren spell at league level - and that has come at a cost.

Finance expert analyses key Man Utd problem

Maguire, who lectures on football finance at the University of Liverpool, told The Athletic about one of the key problems United are dealing with in relation to their big spending - as well as their £2 million-a-week losses for 2021/22.

He explained: "The first [problem] is that their costs are rising faster than their income.

"Since Sir Alex Ferguson retired as their manager in 2013, the wage-to-turnover ratio has increased from 50 per cent to 66 per cent. Thanks to Cristiano Ronaldo and other signings, last season's wage bill went up by more than £60 million to £384 million - a Premier League record."

As per Spotrac, in a table based on 2022, David de Gea is listed as United's highest earner, at £375,000-per-week.

But it was recently reported that the Spaniard was willing to accept a pay cut to extend his contract at the club, which expires this summer.

Spotrac claim that five other players currently earn more than £200,000-a-week. The Daily Mail reported earlier this month, however, that Ten Hag wished to bring in what was dubbed the 'Ronaldo rule' - that no player at the club earns more than £200,000-a-week, in an attempt to bring down the wages-to-turnover ratio.