The summer transfer window is just around the corner and Man Utd have created headroom to strengthen the squad.
Manchester United have made repayments totalling £110million on their revolving credit facility over the last six weeks. United have a rolling credit facility – akin to a credit card – which is important to fund transfers.
United published their third-quarter financial results on Wednesday, and further information shared on Thursday showed the club had made three repayments worth a combined £110m to their revolving credit facility.
The Reds made payments of £50m on April 22, £20m on May 18, and £40m on May 27, leaving £250m to spend on the credit facility ahead of the summer transfer window, which opens on June 15.
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The significant headroom created on the credit facility, along with increased revenue and savings from cost-cutting, put United in a strong financial position heading into the transfer window.
On paper, the club could spend close to £300m on transfers in this summer window.
United CEO Omar Berrada reacted to the update in a statement: “We feel very positive about the club’s progress this season and the continuing positive impact of our business transformation initiatives.”
Sir Jim Ratcliffe made it a priority for his board members to put United on a firmer financial footing, and the British billionaire will feel his wide-ranging changes have been vindicated by the latest financial results.
Despite having the scope to spend up to £300m this summer, United are taking a long-term view and have laid out their priorities for the window: overhauling the midfield, strengthening the left wing and signing a left-back.
United are close to agreeing a deal to make Atalanta midfielder Ederson their first signing of the summer. United have been in talks to sign Ederson over the last few weeks in a transfer worth around £38million.
The arrival of Ederson is not set to alter the club’s plan to sign a marquee Casemiro replacement. The Reds are expected to focus on signing a replacement for Casemiro once Ederson’s transfer is completed, with Elliot Anderson sitting top of United’s shortlist.