Kieran Maguire can’t believe Glazers after £308m Man United reveal – ‘it’s a lot of money’
Man United will only have a ‘moderate budget’ this summer because the Glazers have allowed unpaid transfer fees to reach £308million.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the growing debt at Old Trafford.
The Red Devils released their Q3 financial results in June, revealing that revenue at the club had grown 11 per cent to reach £170million.
However, United’s finances also show that the club still owe £308million in unpaid transfer fees – a record among Premier League clubs.
As a result, the Daily Mail report that United’s summer budget ahead of the 2023/24 season has been capped at just £100million.
Maguire believes the Glazers’ spending at Old Trafford has used transfer fees as a form of ‘interest-free credit’.
“If you owe money on a credit card then that restricts what you can spend on your credit card and the same is true for Manchester United,” Maguire told Football Insider’s Sean Fisher.
“Because the Glazers have been able to borrow further money from banks, they have used other clubs as a form of interest-free credit when recruiting players.
“It’s very debatable how many of those deals have been successful in terms of transferring onto success on the pitch.
“It will have a knock-on impact on the club’s ability to spend money over the course of the summer.
“United will still have a moderate budget, but if you have to repay such large sums of money in the next year or two then it has a big impact on their ability to spend.“
In other news, Man United transfer window ruined by ‘£900m’ Glazer reveal