How Much Money Can Manchester United Spend in the Summer?

How Much Money Can Manchester United Spend in the Summer?

In the club’s latest quarterly call to investors,
Manchester United revealed the financial limitations that will instruct their end of season transfer
activity. The key quote came at the end of Ed Woodward’s
opening address: “Despite being linked in the media to 111
players in January” Woodward told the conference call, “our acquisition of just one of them
– Bruno Fernandes – is an important step in (the right) direction, demonstrating our
commitment to adding experienced, world-class recruits to the exciting crop of academy graduates
that are at the heart of this developing team. “We will take the same planned, disciplined
approach this coming summer.” Woodward’s point that only one came in on
a permanent basis from a large pool of potential recruits is pertinent, as is his emphasis
on “planning” and “discipline”. United will commit funds but only for players
of quality and only at a price Woodward deems appropriate. His public words and private
negotiations must also be viewed through the lens of United’s cash levels, which are
down to £100.9 million, their lowest level since March 2015. In June 2019 that figure stood at £308 million,
but United paid out £187 million on transfer fees over the next six months, recouping just
£22 million in sales. While much of the outgoings related to previous
signings, a sizeable amount was also accounted for in the £80 million purchase of Harry
Maguire, with Leicester demanding the full fee up front — confirmed for the first time
in the most recently released accounts. Usually transfer spending is spread over a number
of years, as is the case with Bruno and, evidently, Romelu Lukaku’s move to Inter. Cliff Baty, United’s chief financial officer,
projects United’s capital expenditure for the fiscal year (July 1 2019 to June 30 2020)
to be £190 million — so a modest increase on the cash already spent. In response to a question from Laurie Davison,
a director at Deutsche Bank, about future transfer budgets, Baty said: “We don’t guide on what that will be,
for obvious reasons. What I will say, is that the level of capital expenditure we’ve got
this year does reflect the accelerated payment of and deferred receipt profile of last summer’s
activity.” This was in reference to upfront payments
for Maguire, Aaron Wan-Bissaka and Daniel James, as well as some historical staggered
spending. “That does mean our future commitments liabilities
are in a very good place, compared to where we might be in more typical years,” Baty
added. Still, it doesn’t mean that United can be
liberal with their spending. That £100.9 million cash figure hardly makes United paupers,
but it’s not extravagant either, especially not in the current transfer market. Selling players would be one way to make up
the deficit and sanctioning a transfer for Paul Pogba could fund the signings of two
players in one go. United put a £150 million price on Pogba’s head last summer but industry
sources have told The Athletic that the club may have to accept as little as £80 million. Even so, that would cover the expected cost
of Jack Grealish, described as United’s No 1 target. Should Aston Villa get relegated,
Grealish’s price would drop further, given their need to comply with profit and sustainability
rules in the Football League. Financial Fair Play of a different level was
also mentioned in Woodward’s conference call, when Randy Connick of Jefferies asked
whether the Manchester City case demonstrated UEFA’s “teeth”. There is zero chance of United spending beyond
the rules and Woodward, speaking for the first time since the announcement of City’s two-year
Champions League ban, is clearly an advocate. City’s ban, should it be upheld during their
appeal to the Court of Arbitration for Sport, would allow the team finishing fifth in the
Premier League to qualify for next season’s Champions League. It has escaped nobody’s attention that United
occupy fifth position and there would be a certain vicious irony about a club loaded
with debt taking the place of their nation-state funded rivals, punished for spending too much.
It would certainly alter the picture for United’s transfer prospects, given the ebullient revenue
streams potentially available. There is a view, though, that City will likely
be allowed to compete in next season’s Champions League while their appeal to CAS is considered.
That is the belief of David Seligman, an associate lawyer with Brandsmiths — a London and Manchester
firm specialising in sports law. “The Court of Arbitration for Sport is fairly
fluid in how they deal with cases,” Seligman told The Athletic. “They can do them quite
quickly or slowly, but when City appeal, the Court of Arbitration for Sport will postpone
any ban until the outcome of the hearing. “Then City will be able to try to delay
it, because these things take time, lots of documents, lots of witnesses. It will go well
beyond the start of next season’s Champions League. I would be surprised if City are not
in it. I don’t think any Premier League teams will benefit from finishing fifth this
season.” If that is the case and United finish outside
the top-four, the club will have to operate far more stringently than in previous years. For further reading on the implications of
Manchester United’s latest accounts, visit The

Comments (100)

  1. Isn't the only reason we keep that asshat Woodward is because he can make Manchester United money hand over fist?

  2. As much as they like, ffp doesn't apply to man u, its totally fine to be in shit loads of debt so they can do whatever they want

  3. 80 million for Pogba just to spend 80 million for Grealish 😂🥴 laughable

  4. 😂 Could you guys stop Bullying Tifo for being sponsored by The Athletic

  5. Our net spend will probally be low again this summer with Pogba going. De Gea could go for big money to if the club wants to get Henderson back next season. The issue for me is Ed Woodward. Does he have the balls to sell De Gea AND Pogba and bring the right players in. Not just big names but the players who fit.

  6. Am a Ghanaian and a Madridista and today is the 6th of march, which is the day Ghana gained her independence and the day on which Madrid was formed.

    What a sunshine day for me🌞

  7. Dream transfer for United :
    Pogba Out for 80-100m
    Smalling 20-30m
    De Gea 50-70m (for cut wages)

    (For cut wages)
    Lingard out free
    Andreas out free
    Jones out free
    Sanchez out free

    In :
    Henderson (back from loan)
    Sancho 80-100m
    Grealish 40-60m
    Timo Werner 40-60m

    (If they could) Ruben Neves 40-60m

  8. Blue-eyes white Woodward

  9. Three scary looking fellas in the thumbnail

  10. Chelsea FC 💙⚽️

  11. more brazilian ronaldo stories please he is arguably the goat pre injury more fans need to get educated on this and on his perseverance after injury

  12. Manchester United could have 1 billion to spend and Liverpool 50m. And you'll be sure Liverpool will still make better signings.

  13. Did Glazers and Woodward pay you money to make this BS vid?

  14. Sell:
    Smalling (20-30)
    Pogba (100)
    Sanchez (15)
    Pereria (20)
    Lingard (20)
    Matic (10)
    Rojo (10)

    Grealish (55)
    Sancho (120)
    Rice (60)
    backup stiker, maybe ighalo permanent, (10/20)

    Money Shouldn't be much of a problem.

  15. Grealish for pogba? Joke of a club

  16. First appeared on the Athletic

  17. the corona virus originally appeared on the athletic

  18. Those Glazers are 100% a paedo ring.

    Just look at them.

  19. Tbf if Pogba leaves in the summer and United somehow pick up £150m then a total of £250m could transform the team.
    CAM Grealish £50m and RW Sancho £100m could be funded by Pogba alone. Leaving £100m for a CDM in Partey, Soumare, or Zakaria and ST in Werner or Dembele. This isn't taking in to account any other monies coming in for say Rojo, Smalling, Jones, Matic, Lingard, Pereira, and Alexis if any.
    £100m for transfers with the amount of monies United bring in is laughable but maybe spending wisely isn't such a bad idea because Woodward has thrown away almost £1 billion on transfers since SAF retired. They don't really have much to show for that.

  20. Emiliano Buendia has just as good stats as Grealish and Maddison for half the price. Norwich is going down

  21. Ebullient – such a good word!

  22. I want to know how to get rid of Özil…… The mercurial German just won't leave our club! The Athletic should take Özil to be their chief editor

  23. Lol why publish this video when the team is on a 9 game unbeaten run? Sometimes it feels like media outlets do their utmost to maintain a negative atmosphere around Manchester United 🤦🏾‍♂️

  24. It can be a good video

  25. Hate United Love Glazers

  26. You have made a mistake by making a video based on an flawed article in The Atheletic and by that you are spreading misinformation.

    The crucial part is the claim that United only has 109 million in cash. While this is technically true it's misleading since this is the cash value at 31st of December 2019. The article mentions that the cash balance was 308 million in June. What is not mentioned is that at the same point in december 2018 the cash balance was at 150 million. So the figure of 109 million should be compared to the 150 million figure rather than the 308 million figure. This is because there are a lot of revenue streams that pay out between 31st of December and 31st of June so the cash balance in the summer will be much healthier than the article states. The actual cash balance in the summer will likely be in the range 200-250 million rather than the 109 million mentioned.

    What the article also does not fully take into account how deals are structured. It is just briefly mentioned but the implications are not examined. Since it was mentioned that all previous years obligations are now completely settled it means that United goes into the window with a clean slate which gives them a lot of room to make new deals with structured payments. So even if United were to nominally spend even 300 million, they probably won't have to pay much more than 100 million of that in cash depending on how deals are structured. On top of that United also have guaranteed money coming in for Lukaku which is 16 million for this fiscal year and then another 40 million in the coming years to offset part of the future obligations they get into this summer.

    So overall the premise of the Athletic article and as a concequence this video is very flawed. United are in a very good financial place to spend what they want in the window even without taking sales into account.

  27. Probably £150M max just like previous seasons which means theres absolutely no way we're signing Sancho without selling Pogba.

  28. Please do a video on Colin Bell

  29. Selling de gea for around €45-50m, smalling for €20m, also sanchez to inter would be great.

  30. Man u spent 100+ m and lose by wolves and knocked out by also wolves in Europa league

  31. Dosent matter they will spend a trillion dollars and still be a top 4 side the most


  33. Shit, so not only was Leicester paid 80m for Maguire, it was also in full up front. Damn, Woody!

  34. We are in big trouble.

  35. I'd rather have no European football, no Sancho, selling Pogba for just £80m in the summer. All this WITH Pochettino as the manager than having everything with Ole. Harsh but best for the club.

  36. all the athletics stories are written by Laorie Whitwell lol

  37. Please do a video of how the glazers are ruing Manchester United


  38. Can't believe they spent more on Maguire than we spent on van Dijk. They seem to have unlimited cash but somehow aren't even in the top 4. It's all been downhill since Fergie left. Wouldn't be surprised if Man U got relegated within the decade.

  39. I still find it difficult to trust Ed on his word that he'll spend, but IF he does, I'd rather find investment in young players than experienced ones, which is what I kinda see in Ole's transfer targets.
    You see us linked with players like Jonathan Davis and Jack Grealish, who I think are fairly good players
    And then there's Jadon Sancho
    He's building a very British-oriented team, but it works, you know?
    We've already gotten Bruno Fernandes, and Ighalo seems to be doing well to the point where Ole is looking at a permanent deal possibility, so I guess things are going well so far

  40. Pogba worth £50M max. Anyone that pays above that are mugs.

  41. Liverpool spent £3.75m last summer are 22 points ahead of everyone else. Man Utd have spent more than anyone else over the last 3 years and have never been so bad.

  42. We’re fucked basically 🤣

  43. The correct answer is about $3,50.

  44. 111 players linked to United in January? Even for all of the memes that seems steep

  45. They talk like they have a vision and a plan when they were the ones who put this club in this state in the first place. Fucking Woodward and Glazers.

  46. You didn't even answer the question in the title. What was the point of this video besides telling us MU can make my by selling Pogba as if we didnt already know that lol

  47. For those who read the comments – the video actually NEVER says how much Manchester United can spend this summer.

  48. I haven't watched it but I can bet it ends with "it depends on if they qualify for the CL or not"

  49. The Bible is an adaptation from the Athletic

  50. Manchester Derby this weekend!

  51. I am about 8000% less likely to support the athletic when you shove it down my throat 3+ times every fucking video

  52. Don't know if I can get used to this "aDaPtAtiOn" thing lads

  53. Can we get one on Manchester City because they have reached their limit on international players and how does this 2 year champions league affect it

  54. Lingard, Pereira Matić and Mata out
    Grealish, Maddison and Sancho in

  55. Please no Grealish

  56. Jadon Sancho is truly good, really… But knowing our limits i suddenly see better a deal for likes of Chiesa, Zaniolo or Odeegard, buying both of them plus Grealish and Soumare or another young CDM and ST look more likely.

  57. If we continue to buy as we have since Ole came in (4/4 IMO on Bruno, Maguire, AWB and James) I would trust them to spend the 100m + sales of players (Smalling, Lingard, Rojo and hopefully Sanchez) well at this time.

  58. Dude we probably aren’t getting into the UCL anyway, may as well break FFP and get the players we need, build the team then after the ban return to Europe.

    Is that illegal and really sneaky? Yes. But does it make sense? Yes.

  59. Hello Tifo! Love your content, love your style, keep going! I wanna make a suggestion. I would like to see a video about the Legendary coach for Turkish Football, Fatih Terim. His accomplishments like 2000 Uefa Cup, Euro 2008, CL12/13, his local success like winning the leage title 8 times out of 10, and his Italian adventure! Would be a great video to watch.

  60. It makes me so happy to see scumchester falling this far❤️

  61. Is there a way to read this info?

  62. This mic quality is something else! Excellent upgrade.

  63. Imagine thinking y’all could get jadon sancho…

  64. Quick answer. Not as much as Stockport County 🤣

  65. That's better you only mentioned the Athletic twelve times in this video.

  66. That's cool stats… plz do a video on Arsenal finance too..

  67. How in a world that Jaden Sancho exists could Jack Grealish be your number one target? Beggars belief how United's scouting works.

  68. I swear if they sign one more English player 🤦‍♂️…

  69. Harry Maguire was worth every penny

  70. How much money can Man U spend? Dr Evil says 1 billion dollars!

  71. Do one on Chelsea

  72. Is there a man city fair play rules one of these yet?? I feel like it's an obvious one to make but seems to have been ignored? 🤔

  73. Kick the capitalism out of football

  74. Pogba stopped being worth upwards of 100M long ago, they're not getting that much money for him anytime soon.

  75. "United have to accept £80m for Pogba" 😅 Talling about Man Ute here not Mansfield Town. They dont have to accept anything

  76. The athletic vs one football rivalry is heating up

  77. Surely you guys do some podcasts. Maybe on the athletic??

  78. It's not a matter of much they can spend, it's how much they will waste buying shitty players if Woodward is there

  79. In summary Manchester United are very rich we get it, when will you ever talk about Leicester and Sheffield United United???they are loved teams to and by the way perform much better can you please now stop being biased

  80. Pogba can be sold for a large fee and there are modest transfers on offer for Jones, Smalling, Lingard and numerous loans. Forget Grealish, Cantwell is better and get Sancho.

  81. Ebullient is a nice word, thanks!

  82. We have bruno, mctominay, fred, pogba (for now), mata, matic, and a promising james garner (I'm not including jesse or pereira as they're too old to be considered developing) So why is grealish are no.1 target? He's good and all but also currently at the heart of a team getting relegated so 80 mil is just ridiculous

  83. Cliff batty boy👦😂

  84. 100.3M is the answer. LEAVE! if you don't want to listen to the chit chat you won't understand

  85. the thumbnail is creepy af.

  86. So this video was basically all about Man City’s CL ban getting overturned 🤔🧐🙄

  87. 1:02 woodward quote, explain the acquisitions of darmian, Rojo, Blind, Lukaku.

  88. Not much if the glazers pay themselves another £100million. They use Man united as a piggy bank

  89. We should spend good money on a reliable tough defensive midfielder, we have enough attacking and box to box mids, we need a defensive minded one now

  90. Nice video but that thumbnail is something out of nightmarish hell.

  91. United will spend big but it will not be a huge net spend.

    Final Q4 brings in season ticket/executive renewals which improves the cash in the bank.

    Q1 will bring in a fee for Pogba £90 million at least, Smalling £12 million then more incoming depending who else we sell (Matic, Lingard, Rojo, AP).

    I don’t expect we will see a few for Sanchez, any fee offered for Sanchez will go directly to Alexis.

    I honestly think united will spend £200 million gross but net spend more like £100 million.

  92. PLZZ also make on arsenal

  93. The 80million valuatuon of Pogba sounds a bit ridiculous. Especially when Grealish is valued the same amount.

  94. Fuck grealish, we should target sancho and koulibaly, and getting rid of dead weight pogba

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