School also will not earn so much!
It simple. The Glazers have promised SAF 25m a year plus a further 25m if a star player is required. 25m a year isn't much as Sunderland already have 20m budget. Man Utd dun have this kinda restrictions before Glazers takeover. Given Man Utd's earning power, 50m is easily within budget but these days, its different, have to feed our sour daddy, the Glazers. Other clubs have sugar daddy to feed them but ours is sour, Man Utd in turn, have to feed them.
Starting from last season, there is 25m in the pocket + the sale of RVN at 15m = 40m. Then signed Carrick for 17m and that leaves 23m. And this season, add another 25m = 48m which is the figure that Man Utd spent on Hargreaves, Nani and Anderson.
These figures are excluding the new TV deal at 40m, CL Semis $$ at about 30m and league $$$. And also the future sale of extra players like Smith, Richardson and Heinze etc etc. Potentially, Man Utd can have quite a sum stashed in the other pocket but its not feasible to spend all and like I've said, must feed sour daddy. I guess if Man Utd are to sign Tevez, the $$$ comes from here or even next season's 25m budget.
Liverpool is in similar situation but the owners did not commit/promise yearly budget for Benitaz and dun need to feed sour daddy.
So where got loaded? The money used are all self generated and still have to feed the Glazers. Hicks and Gillet are a little stingy or slow in releasing funds. Liv only sign 1 striker using big $$$ and there are at least 2 more big $$$ signings I reckon. The money is there but somewhere along the chain is slow. Either the CEO or owners I guess.