Man United transfer strategy 'financial sustainable' as losses increase - CEO

Manchester United's summer transfer strategy had "financial sustainability in mind," according to CEO Omar Berrada, after the club reported increased financial losses.

On Wednesday, United posted record full year revenues of £677.6m ($900m) and an operating profit of £22.6m ($30m).

However, the club still reported an overall loss of £43m ($57m), up from £33m ($44m) the previous year.

Borrowing increased by £95m ($126m) to a total of £583m ($773m).

United spent £155m ($206m) midfielders Andrey Santos, Youri Tielemans and Carlos Baleba in the transfer window.

Big six rivals Manchester City, Liverpool, Arsenal, Tottenham and Chelsea all spent considerably more with City, Liverpool, Tottenham and Chelsea all spending at least £100m ($133) on one player.

And speaking as the club's fourth quarter and full year financial results were published on Wednesday, Berrada hinted at a need for a prudent approach to transfers.

"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," Berrada said.

"With that financial sustainability in mind, we have strengthened both our men's and women's teams during the summer window and our men's team has seen the return of Champions League football to Old Trafford."

- Carrick quashes notion Manchester United are out of shape
- Mikel Arteta agrees a new long-term contract extension with Arsenal - sources

In the news release which accompanied the results, United said: "the club continues on its journey to improve operational efficiency and financial sustainability."

A United source said "stabilising the business has required, and will continue to require, hard work and financial discipline."

Among the expenditures for the year was £8.2m ($11m) paid to Ruben Amorim and his staff after the Portuguese coach was dismissed in January. United saved around £8.5m ($11.3m) after Amorim accepted the head coach job at AC Milan in the summer.

The club also paid off around £150m ($199m) from a revolving credit facility between March and June.

Meanwhile, United's finances revealed they paid £63.5m ($84m) for land associated with plans to build a new stadium.

Berrada said: "Our other main area of focus is our plan to develop a new 100,000 seater stadium. We have now completed the major milestone of securing the land which will form part of the proposed location of the new stadium."