Manchester United Chief Executive Officer Richard Arnold spoke to shareholders on a conference call where among other things, he hinted at reduced spending in the future.
Arnold pointed out to shareholders that under his tenure, the team had witnessed major personnel changes and investment in response to last season’s disastrous results that left the club in the sixth position.
He reiterated that he had accomplished the tasks and responsibilities initially agreed upon – something he was still committed to.
“When we last spoke, we set out our mission to support our football teams in delivering the titles and trophies that we know Manchester United should be competing for,” he said.
“This encompasses – football, fans, facilities, and financials.”
Arnold confirmed that the club hierarchy was still keen on the redevelopment of the stadium along with the club’s training facilities which are currently in a pitiful state.
However, he warned those on the conference call that there may be a need to exercise restraint in the way money is spent, hinting at reduced spending on transfers in future windows – something John Murtough also acknowledged in his sentiments.
The 51-year-old remarked, “We will be disciplined in our capital plans, which must be sustainable, and mindful of the macroeconomic pressures and inflationary environment currently impacting the UK and wider global economies.”
He added, “Everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it.”
“This is to the mutual benefit of fans, shareholders, and other stakeholders.”
However, Arnold reiterated that he was recognizant of the fact that success was still a long way off for the Red Devils and that getting there would require time.
He identified Ten Hag’s revitalization of the team as a positive indicator of what is to come and a taste of meaningful gains going forward.
