Manchester United chief Richard Arnold revealed the club has wasted £1 billion and cannot upgrade their stadium or training ground without new investment.

“We’veburned through cash. We spent a billion pounds on players, we spent more than anyone in Europe.

I am not thrilled with where we are, it doesn’t sit easy and we’ve got to get this sorted. You can’t go to our training ground and go ‘show me where that billion pounds is here.

I don’t think we’ve done well with the money we’ve spent historically. We’ve blown through an enormous amount of money.

Last year was a nightmare. I was hating every minute of it.”