盖蒂图片社4小时前英超小组的报告白纸黑字地阐述了这一点。“俱乐部的收入被严重夸大了超过8.3亿英镑。“换句话说，曼城的老板多年来绕过了联盟的财务法规，向俱乐部注入了不应该记录为赞助收入的资金。
Getty Images 4 hours ago The Premier League panel's report laid it out in black and white. "The club's income was hugely overstated by over £830 million." In other words, Manchester City 's owners circumvented the league's financial regulations over a number of years by pumping money into the club that should not have been recorded as sponsorship income.
在曼联向纽约证券交易所延长提交文件后不到五天，该文件详细介绍了截至2026年6月30日的年终账目。
The damning judgement landed less than five days after Manchester United 's extended filing to the New York Stock Exchange which detailed their end of year accounts to 30 June 2026.
其中包括3700万英镑的利息支付，比前一年的3400万英镑有所增加。
Contained within it was an interest payment of £37m, an increase from £34m the previous year.
受人尊敬的足球财经博客Swiss Ramble现在估计，自2005年格雷泽收购俱乐部以来，曼联的净利息支付总额已上升至8.52亿英镑。
And respected football finance blogger Swiss Ramble now estimates that United's net interest payments since the leveraged Glazer takeover of the club in 2005 have risen to a total of £852m.
在没有以任何方式为曼城的老板开脱的情况下，它并没有逃脱来自曼彻斯特俱乐部的许多球迷的注意，虽然一个所有权集团在城市的到来导致了资金的投入，但这意味着一笔类似的巨额资金被支付给另一个俱乐部。
Without excusing City's owners in any way, it has not escaped the attentions of many fans from both Manchester clubs that while the arrival of one ownership group in the city resulted in money being ploughed in, it meant a similar significant sum being paid out in interest for the other.
卡洛斯·巴莱巴（Carlos Baleba）还没有在曼联的最新账户中首次亮相，包括首席执行官奥马尔·贝拉达（Omar Berrada）的评论：“虽然这些结果证实我们走在正确的轨道上，但我们将继续采取纪律性的方法，以确保我们的财务状况保持可持续性。“这是在英超联赛中获得第三名之后发生的，这确认了在缺席两年后重返欧冠联赛。
Maintaining financial discipline Carlos Baleba is yet to make his first team debut for Manchester United United's latest accounts included this comment from chief executive Omar Berrada: "While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable." This came after a third-place finish in the Premier League, which confirmed a return to the Champions League after a two-year absence.
创纪录的收入达到6.776亿英镑，预计2026-27年将高达7.6亿英镑，值得庆祝。然而，贝拉达的谨慎立场凸显了一些不言而喻的事实。
Record revenues of £677.6m, projected to go as high as £760m in 2026-27, is something to celebrate. Yet Berrada's cautious stance underlined a few home truths.
曼联确认自6月30日以来，已在新援引进上花费1.917亿英镑；主要引援包括卡洛斯·巴莱巴、安德烈·桑托斯和尤里·蒂勒曼斯，以及相关费用，还有青训球员如英格兰青年国脚泰南·汤普森，付款期限为“未来五年内”。曼联还透露额外借款9000万英镑，使其总债务达到11.5亿英镑。
In confirming they had spent £191.7m on new players; notably Carlos Baleba, Andrey Santos and Youri Tielemans, and costs associated with them, plus academy players such as England youth international Tynan Thompson, since 30 June, with payments due 'in the next five years'. United also revealed they had borrowed an additional £90m. It took their overall debt to £1.15bn.
为作对比，在截至2021年6月的账目中，同类债务总额为6.67亿英镑。
To put that into context, in accounts to June 2021, the comparable sum was £667m.
在6月30日之前，曼联的转会债务为3.75亿英镑。其中，2.18亿英镑须在2027年6月30日前偿还。曼联还表示，除巴莱巴、桑托斯和蒂勒曼斯外，若已签约球员触发预设条款，俱乐部还需承担高达1.228亿英镑的潜在合同付款——尽管如果最终支付这笔钱，俱乐部大概率会感到欣慰。
Prior to 30 June, United's transfer debt was £375m. Of that, £218m must be paid before 30 June 2027. United have also said in addition to Baleba, Santos and Tielemans, they are liable for another £122.8m in potential contract payments if players they have already signed hit pre-agreed targets – although presumably the club would be happy if they ended up paying this.
拉德克·维特克转会米德尔斯堡最终可能为曼联带来1400万英镑收入。6月重组债务时，曼联在主债务中增加了1.25亿美元（约9436万英镑）。9月23日，俱乐部表示已花费6350万英镑购置拟建新球场用地，其具体融资模式尚待确定。
Radek Vitek's move to Middlesbrough could eventually net Manchester United £14m When they restructured their debt in June, United added $125m (£94.36m) to their main debt. On 23 September, they said £63.5m had been spent on land for their proposed new stadium, the precise funding model for which is still to be determined.
许多球迷，尤其是反对新建球场者，认为这笔资金本应更好地投入迈克尔·卡里克的阵容建设中。然而，正如贝拉达所言，曼联在该问题上采取的是“审慎方针”。
Many fans, particularly those who do not want a new stadium, feel that money would have been better invested in Michael Carrick's squad. Yet, as Berrada said, United are taking a 'disciplined approach' on that.
2025年，曼联以3.13亿英镑的薪资账单位列英超第五高。因无欧战收入，该数字在2025-26赛季降至3.02亿英镑。其他俱乐部尚未公布数据，但曼联排名上升的可能性极小，这意味着卡里克带队夺得第三名实属超额完成任务。曼联薪资营收比为45%，上赛季无其他俱乐部优于这一数字。
In 2025, United had the fifth highest wage bill in the Premier League, at £313m. The absence of European football means that sum dropped to £302m in 2025-26. No other clubs have released their figures yet, but it would be a major surprise if United climbed any higher, meaning Carrick over-achieved by finishing third. United's wages to turnover ratio is 45%. No club had a better figure than that last season.
虽然存在变数，也有明显的例外，包括老特拉福德球队本身，他们在过去十年中在年薪成本排行榜上名列前茅，但不是真正的英超联赛，并且在2024-25赛季尽管工资成本排名第五，但仍排名第15，但工资和表现之间存在普遍的相关性。
While there are variables and also notable exceptions, including the Old Trafford outfit themselves who over the past decade, have topped the annual salary cost table but not the actual Premier League, and in 2024-25 finished 15th despite those fifth highest wage costs, there is a general correlation between salaries and performance.
然而，尽管曼联今年夏天在转会方面的支出相对克制--他们的1.48亿英镑支出低于升班马伊普斯维奇和赫尔城等球队--但他们最近的净支出却很高。原因很明显。
Yet, while United were relatively restrained on the transfer front in terms of spending this summer – their £148m outlay was below that of newly-promoted Ipswich and Hull among others – their recent net spend has been high. The reason for this is clear.
当最近一次转会窗口于9月1日关闭时，他们的销售收入已达4700万英镑。这使他们在英超联赛中排名第11位。在他们的“六大”对手中，只有利物浦的收入较少。
When the most recent transfer window closed on 1 September, they had generated £47m from sales. It put them 11th in the Premier League. Only Liverpool of their 'big six' rivals brought in less.
自2019年以7400万英镑的价格将前锋罗梅卢·卢卡库出售给国际米兰以来，曼联仅四次为一名球员赚取了超过2500万英镑的收入--梅森·格林伍德、斯科特·麦克托米奈、拉斯穆斯·霍伊伦德和亚历杭德罗·加纳乔。
Since they sold striker Romelu Lukaku to Inter Milan for £74m in 2019, United have only generated more than £25m for a player on four occasions – for Mason Greenwood, Scott McTominay, Rasmus Hojlund and Alejandro Garnacho.
今年夏天，一系列年轻球员被出售很有启发性，要么是分别加盟米德尔斯堡和西布朗的拉德克·维特克和托比·科利尔的转会费低于预期，要么是没有，比如后卫泰勒·弗雷德里克森和詹姆斯·奥弗里。不过，在所有情况下，这些转会都包括了重要的出售和回购条款，这是曼联从球员销售中获得更多收入的战略的一部分。
It was instructive this summer a series of young players were sold, either for a lower fee than anticipated in the cases of Radek Vitek and Toby Collyer, who joined Middlesbrough and West Brom respectively, or none, like defenders Tyler Fredricson and James Overy. In all cases though, the transfers included significant sell-on and buy-back clauses, which is part of a strategy by United to generate more revenue from player sales.
曼联球迷在9月13日主场输给曼城之前对俱乐部的所有权举行了最新的抗议2023年6月，英超俱乐部投票决定将未来的杠杆收购限制在俱乐部价值的65%左右。此举似乎是为了回应ALK Capital于2020年12月收购伯恩利。许多曼联球迷认为此举晚了18年。围绕丑闻的负面情绪间接地揭示了老特拉福德的情况。
Manchester United fans held their latest protest against the club's ownership before the home defeat by Manchester City on 13 September In June 2023, Premier League clubs voted to cap future leveraged buyouts at around 65% of a club's value. The move seemed to be in response to ALK Capital's takeover of Burnley in December 2020. Many United fans feel the move was 18 years too late. The negativity around 's scandal has indirectly, shone a light on the situation at Old Trafford.
鉴于偿还巨额债务的现实可能性很小，贝拉达和他的同事必须在控制成本、削减未付转会费、不延长循环信贷限额和资助新体育场这一棘手的平衡点--同时还要花费足够的资金来实现球场上的交付。
Given there is little realistic chance of the substantive debt being paid off, Berrada and his colleagues must navigate the tricky balance of keeping costs under control, trimming the outstanding transfer fees, not extending the revolving credit limit and funding a new stadium – all while spending enough to deliver on the pitch.
2017-18赛季，曼联晋级欧冠四分之一决赛，获得了8000万英镑的奖金。2024-25赛季，他们凭借进入欧罗巴联赛决赛获得了3100万英镑。在他们最近与阿迪达斯谈判的球衣协议中，如果俱乐部错过了欧冠联赛，每年将减少1000万英镑。
In 2017-18, United made £80m in prize money from their run to the Champions League quarter-finals. In 2024-25, they got £31m for reaching the Europa League final. In their recently negotiated shirt deal with Adidas, a £10m annual reduction is applied if the club miss out on reaching the Champions League.
当卡里克带领球队于10月10日在老特拉福德对阵垫底球队托特纳姆热刺时，他们将试图从积分榜第12位的位置上拉上来。总体目标尚未确定，但很明显欧冠资格将是其中的重要组成部分。
When Carrick sends his team out against bottom-club Tottenham at Old Trafford on 10 October, they will be attempting to drag themselves up from 12th place in the table. The overall target is undefined, but it is pretty clear Champions League qualification will be a significant part of it.
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Follow Manchester United on BBC Sounds Pre-match, post-match and topical United content Listen on Sounds and listen for everything you love about the Red Devils