Chelsea’s struggles should serve as a warning for Manchester United before their takeover, says boss Erik ten Hag.
Chelsea were taken over by Todd Boehly last summer and have spent more than £600m in two transfer windows.
However, the 12th-placed Blues have endured a torrid season and are guaranteed to record their lowest points total in the Premier League era.
“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 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.
Dutchman Ten Hag added: “You can have money but you have to do it and spend it in a smart way and you need to have a strategy behind it – otherwise the money doesn’t work.
“In this moment a centralisation of good players, of the best managers, also the money, is all here in the UK. That makes a great competition but also a tough and a hard competition.
“I think there are many more teams in the Premier League who are really strong.”
Figures in March showed United owed £969.6m through a combination of gross debt, bank borrowings and outstanding transfer fees with associated payments.
Figures by Transfermarkt show United have a net spend of 405m euros (£352.24m) in the last three seasons.
It included 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 side need one point from their remaining two games to clinch a Champions League place for next season.
“We have to evaluate that after the season, make the right conclusions for the future and that is what we will definitely do that after the season.”