Manchester United cut their wage bill by £20m in the third quarter of the financial year, aiming to comply with Financial Fair Play regulations and fund summer spending.
Sir Jim Ratcliffe's cost-cutting measures led to over 250 staff redundancies, reducing staff payments to £71.2m from over £91m year-on-year.
Departures and loan deals for players like Marcus Rashford, Antony, and Tyrell Malacia, along with the absence of Champions League bonuses, contributed to the reduced wage bill.
United have initiated summer transfer activities, agreeing to a £62.5m deal for Matheus Cunha from Wolves and bidding £45m for Brentford's Bryan Mbeumo.
Despite recording a net profit of £0.7m for the quarter, United acknowledges a disappointing season with their lowest finish in half a century and failure to qualify for Europe, expecting significant improvement next season.