Louis van Gaal has been given the green light to carry on spending as Manchester United announce a record turnover of £433 million and profits of £23.9m in their latest set of financial results.
The accounts for the year ending June 2014 do not take into account the club-record £59.7m signing of Angel Di Maria or the late-August captures of Marcos Rojo, Daley Blind and Radamel Falcao on loan.
MAN UTD LATEST
10/11Man Utd are 10/11 with Paddy Power to finish in the top fourBut executive vice-chairman Ed Woodward is set to tell investors in a conference call at 1pm that United's finances are so healthy that even a season without Champions League football will not curb their transfer spending.
United's commercial deals, including a £53m-a-year shirt sponsorship deal with Chevrolet that started this summer and a 10-year kit agreement with Adidas worth £75m-a-year that kicks in next year, mean that the 20-times Premier League champions are able to withstand the cost of a season outside of Europe's elite.
Real Madrid announced last week that their annual revenue has soared to £480m, the highest mark for any club in the world. But even the Spanish giants and fellow big-hitter Barcelona cannot rival the fresh commercial deals in place at Old Trafford.
United have spent in excess of £150m this summer on new signings, including the British record signing of Di Maria.
Sources have told Goal that United could have even afforded to have spent £200m on transfers and have the finances in place to buy a player to the equivalent value of Di Maria every year for the next decade.
Further spending is expected to take place in the January market as Van Gaal is given further licence to continue his radical overhaul of a squad that failed so dismally under David Moyes last season and has begun the current campaign in equally uncertain fashion.
The annual results also include details of pay-offs to former manager Moyes and his coaching team and Woodward indicated that the Red Devils expect a revenue slump of 10 per cent as a result of failing to qualify for Europe.
It is believed that Moyes was given a £3.5m pay-off, equivalent to a year's salary, with the club confirming that a total of £5.2m was spent on removing him and his backroom team of Phil Neville, Steve Round, Jimmy Lumsden and Chris Woods.
United's surprise drop from champions in 2012-13 to seventh-place last season saw the club suffer a reduction of £8.4m in Premier League prize money last season – a campaign which Woodward described as "very disappointing" when addressing investors following the publication of quarterly accounts in May.
The absence of Champions League football this season is worth a minimum £25m, and probably at least £10m more, meaning that the Moyes regime cost the club in the region of £50m compared to the heights usually reached under Sir Alex Ferguson.
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