This is set to be the second successive June that Man United have not made a single signing, while the Glazers mull over takeover proposals.
While figures atManchester Unitedinsist thePremier League’s profitability and sustainability rules limit their spєɴԀing power in the transfer market, external sources maintain the biggest obstacle to Erik ten Hag sufficiently strengthening his squad remains the club’s owners.
As mindful as United have to be of financial fair play, multiple sources are adamant they would have more to spєɴԀ if the Glazer family topped up the club’s cash flows, so low it made the announcement of the strategic review in November inevitable.
The Glazers have never invested a single penny into United since they completed their takeover in May 2005.
United sources have suggested they have a budget of around £120million, supplemented by any player sales. That is lower than thede facto£150m budget former managers Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer operated under.
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Mourinho felt so constrained by that ceiling he Ƅłɑмєd it for United’s failure to sign Ivan Perisic in 2017. Perisic went on to score in the 2018 World Cup final for Croatia and win the Champions League with Bayern Munich in 2020.
A well-placed source says up-front fees are a current issue. United refused to meet Chelsea’s demand of an initial fee of £58m for Mason Mount, with £7m in add-ons.
United also have a number of historic transfers to pay off. As of March, they owed clubs £308m in transfer fees.
That could be offset be accruing cash from the Premier League, Europa League broadcasting revenue and sponsorship payments which include deferred payments from the Covid-19 pandemic.
The mooted impєɴԀing sale of United is likely to discourage the Glazers from sanctioning more funds from the credit line, which industry observers believe could hold United back more than FFP.
United have £260m available on their Revolving Credit Facility, drawn down from £300m. “Leaving £40m unpaid on their credit facility means they’re needing cash,” a financial source said.
United projected a record revenue of up to £640m in their results for the third quarter that were published on Tuesday. Provided the Glazers intєɴԀ to sell the club, it would be logical for United’s financial position to be as strong as possible in order to maintain the high share price.
The knock-on effect is the family would not release or sanction capital outlay if they deem it unnecessary. United have had little blowback in their refusal to meet Chelsea’s demand for Mount, who has played 13 times this calєɴԀar year and is out of contract next year.
