Manchester United’s huge historical debts mean the club are unlikely to be able to compete with the Premier League’s big spenders for several years to come, with all mega-money signings now OFF the table and with INEOS happy to ‘wheel and deal’ for some mid-tier level transfers under Sir Jim Ratcliffe.

United spent £158m (€187m, $211m) over the summer window on three new midfielders, with Carlos Baleba, Andey Santos and Youri Tielemans all arriving in a bid to freshen up their engine room.

But having baulked at the financial packages required to sign the likes of Sandro Tonali, Elliot Anderson and Mateus Fernandes – all of whom who moved for significantly higher fees, United have been left as the sole member of the traditional Big Six yet to breach the £100m bracket for a top signing.

Indeed, the £89.3m forked out for Paul Pogba, now some nine and a bit years ago, remains the club’s record outlay.

Their lack of big spending this summer has this week been thrust back into spotlight in the wake of a furious and impassioned rant from Argentine defender Lisandro Martinez, who let rip at the club and director of football Jason Wilcox over their lack of pre-season signings and amid a sense of fear that manager Michael Carrick has been left with limited resources.

While Martinez has since been disciplined and apologised for his actions, his words brought into sharp focus the apparent decline of a club who were once seen as a major player and a market leader when it came to eye-catching transfers.

However, as two Sky Sports men reveal, the club simply no longer have the finances to spend big like they used to, with crippling debts and sustained under-achieving undermining and limiting what they can do on the transfer market.

As a result, all major and ground-breaking signings at Old Trafford look consigned to the history books….

Man Utd no longer a football powerhouse

Speaking to Sky Sports News, and in response to Martinez’s insinuation that the United board did not do enough to strengthen their squad this summer, reporter Rob Dorsett stated: “Man Utd aren’t the powerhouse of world football they once were. Yes, they made record revenues of £678m, but still made a pre-tax loss of £47m and are paying interest on loans of £70m.

“We know they’ve got huge debts to the Glazers. They don’t have huge amounts to spend that Manchester City, Arsenal and Chelsea do, for example.

“They’ve come up with a very specific transfer strategy. Two summers ago, that was focusing on the frontline; this summer was about the midfield because they only had Kobbie Mainoo left as their one senior midfielder when Casemiro left.

“By the way, the three midfielders they brought in all started last night. £156m spent on them, and they’re all integral to Man Utd going forward.

“It’s a fair argument. Man Utd will come back and say they wouldn’t spend money on a stopgap when they’re going to sign a new left-back in the summer, because we’d be left with players on big wages who aren’t going to play.

“They couldn’t afford Myles Lewis-Skelly or Lewis Hall, who are their real targets in that position.

“There’s a jarring at the moment between Man Utd’s financial reality and their strategy going forward.

“They won’t listen to the noise from supporters, but it doesn’t change the fact that they are quite understandably frustrated some of their rivals are going out and spending big when they just cannot do that right now.”

United can no longer make huge signings as Merson rues sad decline

Assessing their lack of spending power, pundit Paul Merson admits he is sad at seeing United having to wheel and deal, comparing their current transfer policy with legendary 80s sitcom character Arthur Daley.

“First of all, you have to have a good defence. If you’re not solid in defence, it’s all going to fall apart. You don’t build a house on a puddle and it’s the same as a football team.

“I like Carlos Baleba from Brighton, but he’s young. Youri Tielemans, I’m a fan of. But I was a bit shocked by the Andrey Santos signing; I’m not going to lie.

“I’m a big Chelsea fan, and I didn’t see anything last season to the point where Man Utd sign him and I go: ‘What a signing.’ I didn’t get that one.

“It’s sad that Manchester United can’t afford these players. They’re one of the biggest clubs in world football and they’re not able to afford a Myles Lewis-Skelly or a Lewis Hall.

“It’s quite sad, really, where Man Utd have gone to now from where they were 20 years ago, when they were one of the greatest teams we’ve seen. It’s sad, very sad.

“They shouldn’t be there. They probably sell more shirts than anyone else. Their club shop is just as big as Selfridges. If you go anywhere in the world, people have Man Utd shirts on. It’s sad, the way it’s gone.

“Other teams are buying one player for the amount of money that United are buying three midfield players for. We all know that the more money you spend on a player, the more often than not they’re going to be a better player.

“Man Utd are in that ‘looking for deals’ situation. They’re the Arthur Daley of the top teams at the moment. They’re wheeling and dealing, and other teams are buying the already-made product. Man Utd are buying players who might be good.”

United will go into the 2027 transfer windows hoping to strengthen both at left-back and in central defence. A new striker would also be welcomed.

With regard to a new frontman, the Red Devils have been linked with an electric Real Betis star who carries a hefty €80m release clause.

In addition, our transfer correspondent Graeme Bailey revealed earlier this week that a red-hot Croatian striker is also on the club’s radar.

It also emerged last month that the Red Devils also have an interest in a German star, who just this week scored an impressive Champions League hat-trick.