Kieran Maguire: Man United have just smashed Premier League transfer record
Man United will spend January and the summer transfer window paying off their record-breaking £364million owed to other clubs.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that United can not afford to go on a ‘spending spree’ under Sir Jim Ratcliffe.
Ratcliffe has taken sporting control at Old Trafford following his 25 percent investment in the Manchester club on Christmas Eve, and the British billionaire has already made changes behind the scenes.
United appointed former Man City chief Omar Berrada as their new CEO, while Jean-Claude Blanc has also become a board member.
However, Ratcliffe is not able to spend big in the January transfer window to improve Erik ten Hag’s squad due to United being close to financial spending limits.
As revealed by Football Insider, United owe a record-breaking £364million in transfer payments following their Q1 results.
Maguire believes United’s transfer debt will stop them spending in both January and the summer transfer window.
“I’ve seen the documents – Manchester United’s transfer payables have increased to £364million which is a record not only for the club but also for any club in the history of the Premier League,” Maguire told Football Insider’s Sean Fisher.
“If you owe a lot of money on a credit card, then going out and having another spending spree using that card is not always the best strategy.
“It does indicate that January 2024 could potentially involve cash going out of the club – but not for new signings.
“Also, when it comes to the summer of 2024, United will have significant financial commitments to other clubs in the shape of instalments for previous signings.“
In other news, Man United ‘player of the year’ Dan Gore undergoing medical today after five offers
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