Manchester United’s Transfer Failures Exposed: Squad Value Now £300m Less Than What They Paid

For more than a decade, Manchester United have been throwing money at the transfer market hoping to build a squad capable of competing at the very top. Instead, what they’ve ended up with is a team that has cost over a billion pounds to assemble but is now worth £322.9 million less than they originally spent.

A Decade of Overspending and Underdelivering

While every club makes the occasional bad signing, United have developed a reputation for turning expensive players into underperformers. Former captain Gary Neville once described Old Trafford as a “graveyard” for both players and managers — and the data now proves his words.

Research from Transfermarkt shows that United’s squad has cost a staggering £1.1 billion, but its current market value stands at just £769 million. That’s the largest negative gap in the Premier League.

To put it in perspective, Arsenal sit on the opposite end of the scale. Their squad is worth £315.9m more than what they paid, thanks to smart signings like Martin Ødegaard and William Saliba, who have developed into stars worth far more than their original fees. Manchester City, Liverpool, and Newcastle are also in the “plus,” reflecting how their smart recruitment has helped them build competitive squads without wasting resources.

United, meanwhile, have fallen into the trap of buying big names either at the peak of their careers (when resale value was always going to drop) or players who simply failed to deliver.

Big Names, Big Money, Small Returns

Take Casemiro, for example. Signed for £70m from Real Madrid, he impressed in his debut season, but at 33 years old, his performances have dipped while his wages remain sky-high. His market value has already collapsed.

Then there’s the infamous Antony deal. United paid a jaw-dropping £81m to reunite the winger with Erik ten Hag in 2022. Two years later, his end product has been disappointing, and the club would struggle to get even half of that fee back if they tried to sell him now.

The story is similar with Jadon Sancho, bought for £72m in 2021. Despite his talent, he has never fully settled at Old Trafford and now looks like another financial misstep.

And perhaps the clearest example of all is Harry Maguire. Signed in 2019 for a world-record £80m for a defender, Maguire has had highs and lows during his United career. But his current value has plummeted to around £11m — a staggering drop that sums up United’s poor return on investment.

A Summer of Change Under Ineos

This summer, however, has shown signs of a shift in transfer policy. New owners Ineos have adopted a more measured approach, focusing on players who could provide long-term value.

The club spent £206m to bring in Bryan Mbeumo, Matheus Cunha, and Benjamin Sesko. Mbeumo and Cunha are proven Premier League players, while Sesko is seen as one of Europe’s brightest young strikers, with the potential to become a future superstar.

It’s a far cry from last summer, when United allowed Ten Hag to chase his personal targets. Players like Joshua Zirkzee (£36.5m, now worth just £25m) and Manuel Ugarte already look like financial losses, proving how poor planning and short-term thinking can cost the club dearly.

Why United Keep Lo‏sing Value

There are two main reasons why United find themselves in this financial hole:

1. Buying players at the wrong stage of their careers – investing huge fees in stars like Casemiro who were already at the back end of their prime.
2. Overpaying for potential that never materialized – splashing massive sums on players like Sancho and Antony, who haven’t lived up to their hype.

While other clubs have built squads full of players who increase in value over time, United’s squad has consistently depreciated — making it harder to balance the books and leaving them vulnerable under Profit and Sustainability Rules (PSR).

Manchester United fans have been calling for smarter recruitment for years, and it seems the club may finally be learning their lesson. By targeting players with resale value and proven ability, Ineos hopes to reverse the trend of financial waste.