Manchester United's recent failures are highlighted by a quick glance at their net spend per trophy over the past 10 years, with Chelsea, Liverpool and the rest getting much more bang for their buck.
Bankrolled by billionaire owners, Premier League clubs have been throwing money at new players in the hope it translates to results on the pitch.
Using data from Transfermarkt, we've looked at the net spend per trophy won for the 'big six' Premier League clubs since 2013-14. The Community Shield is not included as a major trophy.
The figures show that City are obviously dominating in terms of getting a return on their investments, and while Arsenal have closed the gap considerably, failure to win silverware means their recent heavy investment is looking a little desperate.
Manchester United have the biggest net spend of any Premier League side since 2014, which doesn't reflect well on their trophy haul since then.
1. Manchester United
Transfer expenditure: €1.79billion
Transfer income: €465.74million
Net spend: €1326.42milion
Trophies won: 4
Net spend per trophy: €331.6million
2. Arsenal
Transfer expenditure: €1.38billion
Transfer income: €386.05million
Net spend: €995.72million
Trophies won: 4
Net spend per trophy: €248.93million
3. Chelsea
Transfer expenditure: €2.37billion
Transfer income: €1.38billion
Net spend: €992.41million
Trophies won: 8
Net spend per trophy: €124.05million
4. Liverpool
Transfer expenditure: €1.22billion
Transfer income: €769.67million
Net spend: €451.86million
Trophies won: 6
Net spend per trophy: €75.31million
5. Manchester City
Transfer expenditure: €1.79billion
Transfer income: €724.30million
Net spend: €1065.52million
Trophies won: 15
Net spend per trophy: €71.03million
6. Tottenham
Transfer expenditure: €1.17billion
Transfer income: €694.02million
Net spend: €480.91million
Trophies won: 0
Net spend per trophy: N/A