Gary Neville reveals size of financial 'risk' taken with first Manchester United contract

David Beckham Gary Neville Juventus
Gary Neville was part of Manchester United's famed crop of 90s youngsters

Gary Neville admits he took a ‘risk’ with his financial position when he signed his first contract at Manchester United, but believes how he spent his money was ‘the best investment’ he could have made.

Part of the famed Class of 1992 that won the FA Youth Cup that year alongside younger brother Phil, David Beckham, Nicky Butt, Ryan Giggs and Paul Scholes, Nevile signed professional terms with United after leaving school aged 16 in 1991.

The elder Neville remained a one-club man throughout his playing career, hanging up his boots in 2011 after 602 senior appearances and 85 England caps, becoming a rich man in the process – but his initial contract at Manchester United was not then what a highly-rated teenage prospect would expect to earn now.

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Gary Neville's calculated gamble pays off

Adjusting for inflation, Neville bought a house worth around £343,000 in today’s money after signing a contract that initially earned him the modern equivalent of £22,700 a year, banking on his ability to make a success out of his professional career. (If we were to apply housing inflation rates, rather than general inflation, that property would now be valued at more like £628,000.)

Speaking on Stick to Football, brought to you by Sky Bet, Neville said: “Your own house is the best investment [you could make].

“To be fair, when you think about the fact it’s getting harder for anyone to be able to afford a house in the country – which is a different conversation to have – but if you can own your own house, then what a start that is in life.

Gary Neville during his Manchester United youth team days, 1991

Gary Neville back in 1991 (Image credit: Alamy)

“When I got money with my first contract at United, I bought a house. That was a massive thing – it was a house which cost £160,000 and I put down £16,000 as a deposit, and at the time I was taking a big risk.

“I was on £210 a week and had a four-year deal which went [up each year in steps of] £210, £310, £410, £510, with a £7,000 signing on.

"So basically, you’re saving up for this signing on fee, and then you put it into a house, and you think, ‘Right, I’ve got to afford the mortgage for four years'.”

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Steven Chicken

Steven Chicken has been working as a football writer since 2009, taking in stints with Football365 and the Huddersfield Examiner. Steven still covers Huddersfield Town home and away for his own publication, WeAreTerriers.com. Steven is a two-time nominee for Regional Journalist of the Year at the prestigious British Sports Journalism Awards, making the shortlist in 2020 and 2023.