Chelsea’s struggles should serve as a warning for Manchester United ahead of their takeover, says boss Erik ten Hag.
Chelsea were taken over by Todd Boehly last summer and spent over £600m in two transfer windows.
However, the 12th-placed Blues have endured a torrid season and are guaranteed to record their lowest points total of the Premier League season.
“You have to do the right things,” said Ten Hag, whose United side face Chelsea on Thursday at Old Trafford.
The Glazer family announced in November that they were considering selling United as they “explore strategic alternatives”.
Qatari banker Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe’s Ineos Group are the two main parties looking to buy the Old Trafford club.
The Dutchman Ten Hag added: “You can have money but you have to do it and spend it in a smart way and you have to have a strategy behind it – otherwise the money doesn’t work.
“This time a centralization of good players, of the best managers, as well as the money, everything is in the UK. That makes a good competition but also a tough and difficult competition.
“I think there are a lot of teams in the Premier League that are very strong.”
March numbers show United owe £969.6m through a combination of gross debt, bank borrowings and outstanding transfer fees with associated fees.
Transfermarkt figures show United have had a net spend of 405m euros (£352.24m) over the past three seasons.
This includes purchases such as midfielder Donny van de Beek and forward Jadon Sancho, who have struggled since their moves from Ajax and Borussia Dortmund.
“I think we are in a good direction but also we can also learn from this season,” added Ten Hag, whose team needs a point from their remaining two games to secure a place in the Champions League for next season.
“We have to evaluate that after the season, draw the right conclusions for the future and that’s what we’ll do after the season.”