03 April 2023 , 10:25
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The Glazers could use Manchester United's line of credit to make up to £300million's worth of new signings this summer, should they remain in control at Old Trafford.
Despite the Red Devils being on the market since November, some members of the American family are yet to be convinced that a full sale is the right move. Avram and Joel Glazer are understood to be reluctant to the idea of ceding control after 18 turbulent years, meaning they could be still in charge of improving manager Erik ten Hag 's squad for the upcoming summer transfer window.
Mirror Football understands that United are intent on signing Tottenham striker Harry Kane at the behest of Ten Hag, while the Dutch boss also has his sights on a new midfielder which could come in the form of Jude Bellingham, Declan Rice or long-term target Frenkie de Jong.
Concerns over the prospect of the club's takeover saga bleeding into the transfer window and disrupting Ten Hag's rebuild have been voiced by fans, but the Glazers have plans in place if the decision is made to snub the likes of Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani.
But, as first laid out by The Athletic, United's current owners have been using a line of credit, taken out with the Bank of America Securities, since the beginning of the Covid-19 pandemic, in order to aid cash flow. After the Red Devils suffered decreased revenues during lockdown, the Glazer family have sanctioned a number of big-money signings through this short-term borrowing.
Marcel Sabitzer completes Man Utd transfer after last-minute deadline day dash
Manchester United want to sign Harry Kane from Tottenham and may use the 'company credit card' (Getty Images)
Antony and Casemiro were both paid for thanks to short-term borrowing (AFP via Getty Images)Have your say! Who should Man Utd sign this summer? Give us your picks in the comments section.
Ten Hag's two most expensive incomings last summer, Antony and Casemiro, were purchased thanks to what people inside the club view as the 'company credit card'. The two major signings, other business and added interest means that United currently owe Bank of America £206.2m.
Within the club's financial results for the second quarter of this season came a notable pledge that the Red Devils' "revolving credit facility" is expected to be repaid entirely by the end of June thanks to increased turnover from sponsorship, broadcasting funds and season tickets.
United may be back to owing Bank of America soon, though, as the club have a £300m spending limit, giving the Glazers scope to make use of extra funds again while staying within UEFA 's Financial Fair play regulations.
United are hoping to sell players this summer in a bid to bring about some level of financial equilibrium. With costs said to currently be at 107 per cent of total revenue, Sheikh Jassim has promised a debt-free bid.
Ratcliffe - founder and chief executive of petrochemical giants INEOS - is reportedly unwilling to match the Qatari banker's promise which has appealed to disgruntled supporters. United's overall debt is believed to stand at nearly £1bn.