Serial Premier League winners Manchester United could be the first football club to break the £300 million (almost $400 million at the current GBP/USD exchange rate) mark for their annual wage bill, The Sun reported on Thursday.
The squad collectively received a pay boost due to the club’s qualification from the Champions League, while the arrival of Chilean forward Alexis Sanchez, who is on a $650,000 per week salary, also played a part in driving up the wage bill.
Last year, Man Utd became the first Premier League side to be spending £250 million per annum on player wages, and the figure has continued to grow.
Gulf-owned local rivals Manchester City briefly overtook United as the league’s biggest spenders, but the Red Devils are set to be retake the position once their latest financial records are published.
After beating Burnley 2:0 in their most recent outing, Man Utd currently lie 10th in the standings, and have four more fixtures for the remainder of September, including an away game in the UEFA Champions League group stage against Swiss club Young Boys.
Next month, they’ll face Serie A giants Juventus in the first leg of the group stage match, hoping to keep former United winger Cristiano Ronaldo at bay despite their early-season defensive woes.