‘We f****** burned through cash’: Manchester United chief Richard Arnold sits down with protesters and admits last season was ‘a nightmare’ in extraordinary clip… revealing club have ‘blown an enormous amount’ of money with NOTHING to show for it
- Manchester United CEO Richard Arnold had a stunning face-to-face with fans
- The United chief was brutally honest in his assessment of the club’s situation
- Arnold told fans that the club had ‘burned through cash’ over the years
- The 51-year-old admitted that last season ‘was a nightmare’ for the Red Devils
Manchester United supremo Richard Arnold has acknowledged huge mistakes in how the club has been run during a shocking exchange with supporters.
Arnold admitted United had ‘burned through cash’ with disastrous forays into the transfer market and described the last 12 months as a ‘f****** nightmare’.
The chief executive admitted United’s young players had a ‘torrid time’ after returning from Euro 2020 with their confidence ‘shot’. He also pleaded with United fans to stop the protests that have ruined the mood at Old Trafford.
The candid statements were secretly filmed by fans who talked to Arnold in pub close to his Cheshire home.
United would not directly comment but believe the decision by Arnold to engage is indicative of the club’s desire to be more honest and transparent with supporters.
Manchester United CEO Richard Arnold had a stunning face-to-face with fans on Saturday
The United chief labeled last season as a ‘nightmare’ for the club as they finished sixth
He was appointed to succeed executive vice-chairman Ed Woodward in February and his first major move has been to appoint Erik ten Hag as manager after United finished sixth in the Premier League, 35 points behind champions Manchester City.
In an honest appraisal of United’s recent history, Arnold told the group of supporters: ‘We spent a billion pounds on players, more than anyone in Europe.
‘I’m not thrilled where we are. It doesn’t sit easy with me and I worry how we get this sorted for the future. What’s happened is we have f****** burned through cash.
‘You can’t go to our training ground and say “show me where the £1 billion is” because we haven’t spent money well historically. We’ve blown through an enormous amount of money.’
United fans are worried that they are falling further behind City and Liverpool who have already made big signings this summer.
In a video leaked online, the United CEO tells fans that the club ‘burned through cash’
Arnold (right) took over as United’s chief executive after Ed Woodward’s departure in February
Ten Hag’s striker target Darwin Nunez has joined Liverpool and negotiations with Barcelona over £70million Holland midfielder Frenkie de Jong are proving complicated even though the club want to sell to raise funds.
Arnold insisted that despite a failure to qualify for the Champions League, a budget is there to strengthen the squad which has lost Paul Pogba, Jesse Lingard, Edinson Cavani, Juan Mata and Nemanja Matic since the end of the season.
‘For this summer, the money the manager and the director of football [John Murtough] wants is there. For the future, investing in a new stadium and a latest-and-greatest training ground we’ve got to do something. We’ve got to get investors in. I need that to do what I want for the club.
‘I’ve got to have more cash than we have now. No club in the world has the money to do a new stadium without getting it from someone. You either borrow it or someone invests it.
‘The money’s got to come from somewhere, and you may not like our current owners, I can’t help that. But if you want someone else to come in they have to look and say “okay their fans love the club and the love the team, it’s positive”.
‘I look at last year as af****** nightmare. it was a nightmare. I was hating every game, it was a couple of things. One of the protests…’ before the video eventually cuts out.