Erik ten Hag believes Manchester United can remain immune from the financial threat posed by the Premier League's state-owned clubs by ensuring they have a strategic advantage.
United travel to St James' Park on Sunday to take on a Newcastle side trying to break into the top four in their first full season under the ownership of Saudi Arabia's Public Investment Fund (PIF).
They have spent around £210million on players in two transfers window since taking control of Newcastle, but earning a Champions League spot ahead of schedule could accelerate their plans to gate-crash the elite.
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Manchester City have reined in their spending under their Abu Dhabi ownership and now balance the books through sales and increased commercial revenue, but they pursued an aggressive transfer market strategy in the early years of the takeover.
Those two clubs are always likely to have an advantage in the transfer market in the Premier League, although Chelsea have shattered records with a wild spending spree since the Todd Boehly-Clearlake takeover, while United did splash £225million on players themselves last summer, a club record for one window.
That left them hamstrung in January, however, when they could only focus on cut-price loan deals as they navigated a Financial Fair Play tightrope. Ten Hag will have money to spend again this summer and a striker is top of his wishlist, although the scale of his budget could change depending on whether the Glazers opt to sell the club and do a deal with Sir Jim Ratcliffe or the Qatari group of Sheikh Jassim bin Hamad Al-Thani.
But even if United remain wedded to a sustainable model, Ten Hag believes success is not just down to the cash you have in the bank, raising his Ajax side that came within seconds of the 2018/19 Champions League final as an example.
"Money is one thing, but another thing is strategy," he said. "When I was at Ajax we had a low budget in comparison to many clubs in the Champions League and still we won the groups, we came in semi-final and were close to the final. So it's possible to beat team with higher budgets."
United's summer business has proved to be successful and Ten Hag seems to have developed a good working relationship with football director John Murtough. United have overhauled some of their own football structures recently, but Ten Hag is happy with the strategy in place.
"From my analysis, we are going in the direction," he said. "I think we are building a base this season but we have to progress. You can do that by developing the team.
"You have to play better in every game and in every training (session) you can develop your way of playing and that's what we are doing.
"We are setting higher demands and standards for our players every time and for the rest in the summer we will see. Just now that's not our focus point. Just now it's a better way of play so we have a better chance of winning games."
Whatever business United seek to do in the summer, it will be easier if they are back in the Champions League, a target which they could take a significant step towards by beating Newcastle on Sunday.
United missed out on a top-four finish for the fifth time in nine seasons last year and regardless of the benefits that status brings in terms of finances and attracting players, Ten Hag also knows that it should be a non-negotiable for his club.
"Let’s make clear one, thing, we have to play in the Champions League. We’re Manchester United and have to be in it, there can be no misunderstanding," he said.
But the club's latest financial results, detailing the three months up to the end of 2022, revealed a 32% fall in broadcast revenue due to playing in the Europa League rather than the Champions League, which could equate to around £100million over the course of a season.
That money would strengthen Ten Hag's budget, but last summer also showed that United remains an attractive proposition for players even when they had to sign up for a campaign in the Europa League.
"Of course we are more interested in being in the Champions League, but even when we’re not we are still attractive for the top players. I noticed that last year," said Ten Hag.
"Casemiro is a very good example. He has won everything, including the Champions League, but he was willing to come to Manchester United.
"Even when we were playing in the Europa League because this club attracts big people. It is very interesting for them and they want to be part of this club.
"But I want to make the point clear that we have to be in. There are two ways to do it. One is in the Premier League and finishing in the top four or there is winning the Europa League. Those are the two chances."
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