Manchester United's Debt and Poor Results Leave Michael Carrick Facing Dismissal

Manchester United have won just three of their first 15 matches across all competitions in a historically bad start to the season.

That dreadful run has left manager Michael Carrick facing the sack, though the decision remains unofficial because the responsibility falls to Director of Football Jason Wilcox. According to analysis published by Kwest Thoughts, Wilcox likely realizes that dismissing Carrick would mean following him out the door, creating an obvious conflict of interest.

The board knew they handed Carrick a squad filled with a million holes when they awarded him a two-year contract. That short-term deal was never meant to launch a long-term project, but rather to find someone who could grind out results through a difficult transition period.

Kwest Thoughts outlined the massive structural needs the club faced entering the summer transfer window. The roster required three central midfielders, including a high-end replacement for the departing Casemiro, alongside a left back to push and cover Luke Shaw, an upgrade at right back, and eventually an attacker to begin a Bruno Fernandes succession plan.

The club had to prioritize certain areas while expecting existing players to maintain their previous performance levels.

That plan quickly collapsed when key players suffered injuries or natural performance dips due to aging curves. Critics immediately blamed “Glazernomics,” a term fans use to accuse the Glazer family of pocketing Champions League revenues rather than reinvesting them.

Manchester United carry the highest transfer debt in English football. When the club spends millions on players like Matheus Cunha, Bryan Mbeumo, Benjamin Sesko, Joshua Zirkzee, Matthijs de Ligt, and Andre Onana, they repeatedly tap into short-term revolving credit facilities.

Manchester uniteds matheus cunha during the premier league match at old trafford manchester date saturday october

That credit line requires steady repayment with interest, meaning a £65 million player ultimately costs significantly more.

The Athletic estimates that United will bring in a minimum of £45 million in Champions League revenue this season. The club already received £37 million of that money in September, and just three days later, they made a £30 million payment toward their revolving credit facility.