Harry Kane, Jude Bellingham, and Frenkie de Jong are all players who the Glazers are interested in, despite the ꜰᴀᴄᴛ that Manchester United may be in the midst of a prospective sale.
Avram Glazer’s family remain in control of Manchester United.
If the Glazers continue to be in charge at Old Trafford, they might use Manchester United’s line of credit to make up to £300 million worth of fresh acquisitions this summer.
Several members of the American family have not yet been persuaded that selling the Red Devils completely is the best course of action, even though they have been on the market since November. After 18 stormy years, Avram and Joel Glazer are ʀᴜᴍᴏʀᴇᴅ to be unwilling to give up control, which suggests that they may still be in charge of bolstering manager Erik ten Hag’s team for the forthcoming summer transfer window.
According to reports from Mirror Football, Ten Hag has instructed United to buy Harry Kane from Tottenham. The Dutch manager is also reportedly looking for a new midfielder and his options include Jude Bellingham, Declan Rice, or his long-term goal Frenkie de Jong.
Manchester United want to sign Harry Kane from Tottenham and may use the ‘company credit card’.
Fans have expressed concern about the possibility of the club’s takeover ᴅʀᴀᴍᴀ interfering with the transfer window and Ten Hag’s renovation, but the Glazers have contingencies in place if the choice is made to pass on potential investors like Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani.
But as The Athletic originally reported, United’s current owners have been using a line of credit they took out with Bank of America Securities to help with cash flow since since the Covid-19 ᴏᴜᴛʙʀᴇᴀᴋ started. Via this short-term borrowing, the Glazer family has approved several high-profile acquisitions after the Red Devils’ earnings dropped during the lockdown.
Antony and Casemiro were both paid for thanks to short-term borrowing.
The two most costly newcomers to Ten Hag last summer, Antony and Casemiro, were acquired using what club members refer to as the “business credit card.” Due to the two significant acquisitions, additional business, and interest, United presently owes Bank of America £206.2 million.
A noteworthy statement that the Red Devils’ “revolving credit facility” is anticipated to be fully returned by the end of June thanks to improved turnover from sponsorship, broadcasting funding, and season tickets was included in the club’s financial reports for the second quarter of this season.
Since the club has a £300 million expenditure cap, which gives the Glazers room to employ additional funds once more while adhering to UEFA’s Financial Fair Play rules, United may soon be back to paying Bank of America.
This summer, United hopes to offload players in an effort to achieve some semblance of financial stability. Sheikh Jassim has guaranteed a debt-free proposal, with costs reportedly accounting for 107% of total revenue.
Ratcliffe, the founder and CEO of the massive petrochemical company INEOS, is apparently unwilling to match the pledge made by the disappointed backers’ favorite banker from Qatar. It is estimated that United owes close to £1 ʙɪʟʟɪᴏɴ in total debt.
