10 months ago
32 If Erik ten Hag thought the takeover of the footballing side of Man United’s business was going to give him the opportunity of going on a spending spree, the Dutchman will need to think again.
It’s clear that awful lot needs to change at the club in order for them to approach the glory days under Sir Alex Ferguson, and that isn’t going to happen overnight.
However, Sir Jim Ratcliffe and his team do need to improve the playing squad significantly in order to get the supporters onside.
Unfortunately, there’s an historic £364m millstone around their necks which is likely to preclude the new owners from spending big, at least in the interim.
According to football finance expert, Kieran Maguire, the Red Devils owe a record-breaking amount to other clubs with regards to their transfer business.
Manchester United’s Old Trafford stadium“I’ve seen the documents – Manchester United’s transfer payables have increased to £364million which is a record not only for the club but also for any club in the history of the Premier League,” he told Football Insider.
“If you owe a lot of money on a credit card, then going out and having another spending spree using that card is not always the best strategy.
“It does indicate that January 2024 could potentially involve cash going out of the club – but not for new signings.
“Also, when it comes to the summer of 2024, United will have significant financial commitments to other clubs in the shape of instalments for previous signings.“

That’s likely to come as no surprise to the long-suffering Old Trafford faithful, but does put into perspective the size of the task that INEOS have before them.
They have at least begun in the right way with the appointment of Omar Berrada as their new Chief Executive Officer.
As long as everyone has patience and belief that things are going in the right direction, this will be just a blip in the road.
