Tottenham won the race to sign Mateus Fernandes and Sandro Tonali, two midfielders who were on Manchester United’s target list.
It’s no secret that Manchester United are looking for midfield reinforcements. That probably doesn’t help in negotiations because most clubs will now try to charge Ineos at a premium.
Although that may seem like nothing new for United, there is a conscious effort being made to change the club’s reputation in the market.
United have walked away from three days for midfield targets this summer, including two Premier League options who have now signed for Tottenham.
Mateus Fernandes is set to join Tottenham for £85m: What is your INSTANT REACTION?
WHO do you want Man Utd to sign instead?
Man Utd pull back from Tottenham’s aggressive spending spree
Tottenham have signed two midfielders who were on United’s radar.
The reason for that is not down to Mateus Fernandes or Sandro Tonali preferring Tottenham over United, but because the latter wasn’t willing to pay the excessive asking prices.
For instance, Tottenham are paying West Ham a whopping £85m for Fernandes, plus an extra £100m to sign Tonali from Newcastle.
United will get criticised for this if they fail to find sufficient alternatives between now and deadline day, but United In Focus has caught up with Adam Williams, Head of Football Finance and Governance at GRV Media, to get a better understanding of how Tottenham have been able to outspend the Reds for desired targets.
“Tottenham and United have, to an extent, switched places in terms of their approach to financing transfers,” Jonny said.
“For Spurs, that’s mainly out of necessity. There was a time when their wage bill was lean and, while they have always spent in the transfer market, everything they did was within their means. In layman’s terms, they very rarely spent more than they earned. That was the Daniel Levy philosophy.
“Since around the pandemic time, that has changed. The owners have put in almost £350m since 2022. They have needed to in order to compete with their peer group in the transfer market. What’s more, they have relied heavily on instalments to fund transfers. They owed about £300m in instalments at the end of the last financial year, and that will have gone up again over the course of last season.
“Now, they are in something of a doom loop because the vast majority of those transfers haven’t worked; they haven’t consistently delivered the Champions League football which would make them economical, so Spurs need to spend even more to build a squad who can get them back to that point. So they are spending so much out of necessity, really. And, again, the point to remember is that they are spending more than they earn, financed by the owners.
“Historically, United have been similar. They have taken on more financial debt and relied heavily on instalments to fund new signings. It has been a bet on future success which often hasn’t materialised. So after injecting nearly £300m himself as part of the part-takeover, Ratcliffe is now trying to run a much, much tighter ship.
“That has meant cutting costs and squeezing more revenue out of fans. But the most important single element of the plan has been re-basing the squad – getting rid of overpaid underperformers and replacing them with more economic options who can have an outsized impact on the pitch. They want to avoid overpaying at all costs.
“The difference between the two clubs is that United’s ceiling is much, much higher in terms of revenue. If and when the stars align, they will be able to outspend not just Spurs but pretty much everyone except Real Madrid in world football. But in the meantime, patience will be needed. They need to stay on top of costs, make smart – but not necessarily the most glamorous – signings and press on with the plan for the new stadium, if they can make it work. Consistent Champions League football is the foundation they need to have the financial security to really go huge again in the transfer market.”
- ⚡️ NEWS IN BRIEF
- Tottenham may be outspending Manchester United, but they already owe over £300m
- United took a similar approach for years, but have changed its stance on transfer since Ineos took control of football operations
- Tottenham are paying £85m for Mateus Fernandes and £100m for Sandro Tonali
Which transfer targets do you NOT want Man Utd to sign?
Let's turn the transfer question on it's head, and give Jason Wilcox some advice…
Sandro Tonali expresses desire for AC Milan return ahead of Tottenham medical
Tonali boarded a flight to London today and will undergo medical examinations before being announced as a new Tottenham player.
Prior to boarding his flight, Tonali addressed questions from journalists present when he spoke about wanting to play for AC Milan in the future.
Can you imagine United spending £100m on a player who, on his way to medical examinations, was trying to talk his way into another club’s plans?
“To date, it has always been difficult,” Tonali said, as quoted by Milan Reports.
“There has never been an opportunity to return to Italy. Is my dream to return to Milan one day? We joke about it all the time, but I think that if one day there is the opportunity, we will speak about it seriously.”
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