Manchester United have enjoyed a drop in their wage bill for the past financial quarter.
United's revenue is down by 10 per cent due to their lack of Champions League football.
But there was some consolation for United to take from their absence from Europe. One of the most striking aspects of the first quarter results was a drop in player wages at the club, despite a £150m investment in the transfer market.
Di Maria and Falcao are being paid handsomely, but the departure of big earners - Nemanja Vidic, Rio Ferdinand and Patrice Evra - as well as absence of bonuses paid to players for each point gained and game played in Europe, has seen a reduction of £3.5m - 6.6 per cent - in wages, compared with the previous first quarter.
The club also generated £18.3m from the sale of players compared to £1m in the equivalent period last year - a gain "which related mainly from the sale of Danny Welbeck," United revealed.
