Premier League side Man Utd will be able to spend big this summer thanks to their ‘company credit card’, according to reports.
The Red Devils, who lost 2-0 to Newcastle on Sunday, have had a good season under Erik ten Hag to date with Man Utd still in the top four of the Premier League and winning the Carabao Cup earlier in the campaign.
Ten Hag still has a chance to guide them to Europa League and FA Cup glory with the Red Devils into the latter stages of both those competitions.
And the Dutchman will be hopeful that the Man Utd hierarchy will back him again in the summer transfer market as he looks to get the club challenging for the Premier League title again.
Man Utd haven’t really come close to winning the league since Sir Alex Ferguson left the club in 2013 but fans are hopeful Ten Hag will be the man to deliver a title.
And The Athletic journalist Laurie Whitwell has revealed that a ‘company credit card’ means the Glazers ‘will be able to sanction signings if they stay’.
‘Manchester United’s financial results for the second quarter of this season came with a notable pledge that the £200million ($247m) debt owed on what the club term a “revolving credit facility” is expected to be repaid entirely by June 30, 2023.
‘When the pandemic struck, United gained a line of credit with Bank of America Securities to aid cash flow and this is the means by which United have paid for various transfers in the past few seasons.
‘The signings of Casemiro and Antony, for instance, were funded using this short-term borrowing. Some people think of it as a company credit card.
‘United feel they are now able to repay this due to income coming in at the back end of the season from sponsorship, broadcast and season tickets.
‘The sum that needs paying off is actually £206.2m, given the interest added on.
‘But the balance is not likely to be zero for too long because the players United recruit in the summer window will be bought using the same mechanism.
‘United have a £300m limit with Bank of America, so there is scope for significant spending, so long as it falls within the parameters of financial fair play regulations.
‘This is how the Glazers will be able to sanction signings if they stay.’
Whitwell adds that Man Utd are making a centre-forward the ‘priority, while they also ‘want a midfielder in the style of a No 8’.
If they get both those two signings sorted then they can move onto right-back with Aaron Wan-Bissaka potentially leaving the club in the summer.