Ex-Everton chief Keith Wyness points to alarming debt, missing Champions League revenue, and a costly “bomb squad” as critical challenges for the club.
The staggering scale of Manchester United’s debt stands out “like a sore thumb,” according to former Everton CEO Keith Wyness, who has delivered a stark assessment of the club’s financial health. The football consultant, who ran Goodison Park between 2004 and 2009, warns that urgent action is required to stabilize the situation at Old Trafford.
Speaking on Football Insider’s Inside Track podcast, Wyness highlighted the club’s massive financial obligations, particularly money still owed on player transfers. “The amount of debt is amazing,” he stated. “Its player receivables is still an amazing amount of money on player debt. They still owe on players.”
Wyness identified two non-negotiable steps for the club’s recovery: a swift return to the UEFA Champions League and a ruthless clear-out of the squad. “It’s clear that Champions League revenue is missing. And that’s the big, big hole for Man United,” he explained. “They need to get that cost base still down further, and they’ve got to get rid of that bomb squad that they’ve still got a lot of players there. They’ve still got a lot of player trading to do and some losses to take.”
The former executive also took aim at the Glazer family’s ownership, noting, “the Glazers have done very well out of it still, and they’re still taking fees from it.” He raised a further red flag about the club’s credit, warning that a revolving credit facility is nearing its limit and may soon require refinancing at “very high interest rates.”
Despite the precarious finances, the club is still expected to back manager Ruben Amorim in the January transfer window. United are reportedly eyeing Wolves midfielder João Gomes, whose club faces relegation, and remain linked with a move for Atlético Madrid’s Conor Gallagher as the manager seeks to bolster his options.
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