Manchester United got contracts wrong under the Glazers but Ineos have already started to change that

Sir Jim Ratcliffe once labelled Manchester United as the "dumb money" in football, so you can only imagine what the billionaire businessman makes of an organisation that produces such a dreadful return from staffing costs.

One of the most consistent guides of success in football over the past decade has been a squad's wage bill, which has proven to be an even more reliable indicator than transfer spend, but United have done their best to buck the trend. According to Capology they had the highest wage bill in the Premier League last season but could only finish eighth on the pitch.

Erik ten Hag will put that down to injuries the fact millions of pounds was wasted with players stuck in the treatment room, but United have always been near the top of the wage bill table. In the past 11 years, however, they've never been top of the Premier League table. The weekly spend on players hasn't produced the expected return.

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According to the figure for last season, United's estimated wage bill comes in at £3.9m a week, around £100,000 higher than Manchester City's – although the Blues operate with a smaller squad. Either way, the contrast is striking.

Not only have United paid too handsomely, but under the Glazers and the decision-making of Ed Woodward, they became a soft touch for renewals. Woodward felt his policy protected value but all it did was allow some players to take their foot off the gas, while some of those contracts became a burden when the players couldn't be sold. It rewarded mediocrity.

Ineos are keen to change the approach and the narrative on that front. While