Van Gaal told he can spend again in January as Manchester United announce record turnover

The Dutchman spent big in the summer window, acquiring the likes of Angel di Maria, Luke Shaw and Radamel Falcao, but will be given the green light to splash further cash

By Wayne Veysey

Louis van Gaal has been given the green light to carry on spending as Manchester United announce a record turnover of up to €535 million and a profit of around €51m in their latest set of financial results.

The accounts for the year ending June 2014 do not take into account the club-record €75m signing of Angel Di Maria or the late August captures of Marcos Rojo, Daley Blind and Radamel Falcao on loan.

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United's commercial deals, including a €66m-a-year shirt sponsorship deal with Chevrolet that started this summer and a 10-year kit agreement with Adidas worth €93m-a-year that kicks in next year, mean the 20-times Premier League champions are able to withstand the cost of a season outside of Europe's elite.

Real Madrid announced last week that their annual revenue has soared to €598m, the highest mark for any club in the world. But even the Spanish giants and fellow big-hitter Barcelona cannot rival the fresh commercial deals in place at Old Trafford.

United have spent in excess of €187m this summer on new signings, including the British record signing of Di Maria.

Sources have told Goal that United could have even afforded to have spent €250m on transfers and have the finances in place to buy a player to the equivalent value of Di Maria every year for the next decade.

Further spending is expected to take place in the January market as Van Gaal is given further licence to continue his radical overhaul of a squad that failed so dismally under David Moyes last season and has begun the current campaign in equally uncertain fashion.

The annual results should also include details of pay-offs to former manager Moyes and his coaching team, but the figures will not reflect any financial losses incurred from failing to qualify for Europe for this season.

It is believed Moyes was given a €4.3m pay-off, equivalent to a year's salary, and a similar sum was handed to his backroom team of Phil Neville, Steve Round, Jimmy Lumsden and Chris Woods.

United’s surprise drop from champions in 2012-13 to seventh-place last season saw the club suffer a reduction of £8.4m in Premier League prize money last season – a campaign which Woodward described as "very disappointing" when addressing investors following the publication of quarterly accounts in May.

The absence of Champions League football this season is worth a minimum €31m, and probably at least €12.5m more, meaning the Moyes regime cost the club in the region of €62.2m compared to the heights usually reached under Sir Alex Ferguson.