28 October 2023 , 14:59
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Erik ten Hag's transfer ambitions are set to be scuppered by the news that Manchester United still owe more than £300million on a host of previous signings.
Sir Jim Ratcliffe is currently pursuing a 25 percent stake in the club, that would leave the Glazer family as majority owners. But regardless as to whether that deal goes through in time for the January transfer window, the club seemingly still need to address existing debts as well as strengthening the squad.
Ten Hag splashed out more than £170m in the summer, with Atalanta striker Rasmus Hojlund his most expensive purchase at £72m. That took the total spent at United to over £2billion since the US family took over in 2005.
But football finance expert Kieran Maguire has now alleged that a number of deals are yet to be paid for. He wrote on social media: "Manchester United full accounts out and shows the club owes £317,809,000 cash in outstanding transfer instalments," followed by the tongue-in-cheek hashtag of #Glazernomics.
Paul Pogba remains the club's record signing at £89m, with Brazilian winger Antony costing £80m. Maguire, who also shared images of the relevant accounts, also claimed the much-maligned owners were continuing to borrow money in order to fund signings.
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"Since the 30 June year end, Manchester United borrowed £50m on 3 July, £50m on 3 August and £60m on 10 October," he wrote. "This takes total gross debt to £773m."
Bryan Glazer, Avram Glazer, and Joel Glazer have been the subject of protests from Man United fans (Catherine Ivill/AMA/Corbis via Getty Images)HAVE YOUR SAY! Can Man United finish in the top four? Comment below.
Ten Hag did find himself capped at the tail-end of the window, with financial fair play restrictions hampering his plans for further spending. Indeed, this proved a factor in negotiations for Sofyan Amrabat from Fiorentina, with the Moroccan eventually arriving on a loan deal.
Last November, it appeared the Glazers would soon be leaving Manchester after announcing their intention to put the Old Trafford club up for sale. Ratcliffe and Sheikh Jassim then emerged as the frontrunners, with the Qatari banker reportedly in the driving seat with his bid closer to the £6billion valuation of the owners.
However, he withdrew from the running this month after growing frustrated at the prolonged saga. Lifelong fan Ratcliffe also initially sought full control, before amending his proposal.