Manchester United say money will be made available for Erik ten Hag to boost his squad this summer despite their stalling takeover. Financial Fair Play rules would be the only limitation as Ten Hag seeks to strengthen with a new centre forward, midfielder and goalkeeper.
The Glazer family, United’s owners, are dragging their feet as they decide whether Qatar’s Sheikh Jassim or British billionaire Sir Jim Ratcliffe should take control of the Old Trafford club.
The restrictions mean United have moved away from £100million targets such as Harry Kane and Declan Rice to look for cheaper alternatives, with the budget believed to be around the £120m mark.
The Old Trafford club announced an 11 per cent increase in revenue for the three months up until March 31 after progress in domestic cup competitions boosted matchday income.
The club’s third quarter financial update, which revised this year’s revenue forecast upwards to a record £640million, made clear funds would be there to spend on new players.
It comes after Erik ten Hag guided United to a third-place finish in the Premier League during his first season as manager. The Dutch coach also ended a six-year trophy drought by claiming the Carabao Cup and took United to the FA Cup final.
The previous revenue projection for the year of between £590m-£610m has been raised to £630m-£640m. The club’s long-term debt remains unchanged at $650m [£510m].
The latest financial update comes against a backdrop of uncertainty over the takeover of the club as Sheikh Jassim and Ratcliffe jostle for position. There was no mention of the takeover in the financial bulletin on Tuesday.
The statement made clear there will be funds so Ten Hag can invest in the squad during the summer transfer window despite a fall in cash and cash equivalents from £95.8m last year to £73.7m.
Hours before the release of the figures, angry fans protesting at the Glazer family’s slow handling of the takeover blockaded the Old Trafford megastore as the home kit for next season was launched.
