Manchester United 'facing £40m financial hit'

The 20-time English champions finished bottom of their Champions League section, meaning that there will be no European football of any kind in the second half of the 2023-24 campaign.

Erik ten Hag's side were also knocked out of the EFL Cup in the fourth round by Newcastle United, and the fact that they will play fewer matches at Old Trafford this season is likely to seriously impact their finances, according to The Independent.

Man United played 33 home games in all competitions last season, which was a club record, due to their success in the EFL Cup, FA Cup and Europa League, which brought in a matchday revenue of £136.4m.

However, the team could play as few as 23 matches at Old Trafford this term depending on their FA Cup progression and whether any future ties are on home soil.

Man United are away in the third round of the FA Cup at the start of January, with Wigan Athletic their opponents.

The report claims that the club's matchday revenue could drop to under £100m this season, which could see them take a financial hit of around £40m.

Man United have also allegedly been forced to accept that their early elimination from the Champions League will have an impact on their transfer business ahead of next season.

The loss of revenue from the Champions League and Europa League, in addition to the rules surrounding Financial Fair Play, will allegedly harm the club's chances of spending big next year.

The Red Devils would have received in the region of £8m if they progressed to the last-16 stage of the Champions League, but finishing last in their section saw them collect just £3m.

There will also be a loss of broadcasting revenue from UEFA, with a number of factors contributing to what is likely to be a reduced transfer budget in 2024.

The plans of incoming minority shareholder Sir Jim Ratcliffe at this stage are unclear, although he is not expected to have much of an impact during the winter window.

Despite the financial limitations caused by poor on-the-field performances, Man United could allegedly still be active in January, with a loan move for Galatasaray's Mauro Icardi thought to be a possibility.

Meanwhile, both Jadon Sancho and Donny van de Beek are set to leave next month, and Casemiro is also being heavily linked with a move to Saudi Arabia.