Manchester United’s wage bill has dropped below Arsenal’s for the first time in the Premier League era, according to the most recent financial statements.
The Times report that Manchester United’s most recent set of annual accounts for 2023/24 have revealed a wage bill of £313m, down from £364.7m in 2022/23.
Given Arsenal’s wage bill for 2022/23 was £328m, and the Gunners haven’t yet published their accounts for 2023/24, that means United currently appear to be behind Arsenal in terms of annual salary spend.
The Times claim this is the first time this has happened since the inception of the Premier League in 1992. And it’s not expected to change when Arsenal’s financial statements are published, as the club’s wage bill is expected to increase.
Arsenal signed Kai Havertz, Jurrien Timber, Declan Rice, and loaned in David Raya ahead of the 2023/24 campaign, as well as extending some contracts. It would certainly make sense if their wage bill went up.
Both Arsenal and Manchester United remain outside of the top three in the Premier League, with Chelsea at £338m, Liverpool at £386m, and Manchester City easily in the lead at £413m – £100m more than their local rivals.
Like Arsenal, it’s hard to imagine any of those three clubs significantly decreasing their wage bills from 2023 up to now.
Unlike Manchester United, rival clubs Chelsea, Arsenal, Liverpool, and Manchester City are all competing in the Champions League this season. Chelsea and Manchester City also raked in a bunch of extra cash at the Club World Cup over the summer.
United’s reduced spending may be credited to Sir Jim Ratcliffe’s cost-cutting, but the reality is that United are going to have to spend less on wages until their league finishes and European campaigns make them more money.