Manchester United chief executive Richard Arnold spoke to shareholders on a conference call where, among other things, he hinted at reduced spending going forward.
Arnold told shareholders that under his tenure the team had seen significant personnel changes and investments in response to last season’s disastrous results which left the club in sixth position.
He reiterated that he had fulfilled the tasks and responsibilities initially agreed upon, something to which he was still committed.
“The last time we spoke, we set out our mission to support our football teams in delivering titles and trophies that we know Manchester United should compete for,” he said.
“This encompasses: football, fans, facilities and finances.”
Arnold confirmed that the club hierarchy was still interested in refurbishing the stadium along with the club’s training facilities, which are currently in a sorry state.
However, he cautioned those on the conference call that it may be necessary to exercise restraint in how money is spent, hinting at reduced transfer spending in future windows, something John Murtough also acknowledged in his sentiments.
The 51-year-old commented: “We will be disciplined in our capital plans, which must be sustainable and mindful of the macroeconomic pressures and inflationary environment currently affecting the UK and wider world economies.”
He added: “Everyone at the club is aligned on a clear strategy to achieve sustained success on the pitch and a sustainable economic model off it.”
“This is for the mutual benefit of fans, shareholders and other interested parties.”
However, Arnold reiterated that he was aware of the fact that success was still a long way off for the Red Devils and that getting there would take time.
He identified Ten Hag’s revitalization of the team as a positive indicator of things to come and a sign of significant gains to come.
