Ed Woodward has promised to keep improving Manchester United's squad, although the executive vice-chairman has said this summer's transfer window will not see the same "churn" of players.
United have splurged vast amounts on new players since Alex Ferguson's retirement, including last summer's world-record acquisition of Paul Pogba after deals for Zlatan Ibrahimovic, Henrikh Mkhitaryan and Eric Bailly.
Those signings led to a 14.2% rise in the wage bill over the prior year quarter, as shown in United's financial results for the quarter ending December 31, 2016, and costs could increase further if the likes of Atletico Madrid star Antoine Griezmann arrive at the end of the season.
Executive vice-chairman Woodward on Thursday pledged to again back manager Jose Mourinho in the transfer market, but told investors United's squad will be more steady than recent years.
"Are we happy with the roster at this point? Yes, I think there's a happiness from the manager at this point, as you can tell in all his recent interviews in terms of where we are as a squad," Woodward said.
"I think there's always going to be continual improvement. I think even if you win everything, you still want to improve the squad - that's the nature of the dynamic industry that we're in.
"But I think we aren't necessarily in a position where we have to churn a large number of players.
"I think I've guided before that we want to get to a more steady state and be buying and potentially selling a lower number of players each year.
"I think we're in that kind of environment now compared to where we were two, three years ago, when perhaps there was a little more churn required from the playing squad perspective.
"And in terms of guidance around that, obviously we don't guide around player spend.
"It's a number you can track almost on a deal-by-deal basis because things are very widely published when they happen, but it is not something we will guide on."