The numbers don’t add up so something has definitely happened! It sounds like a conspiracy theory but looking at the timeline of events, it makes perfect sense.
Manchester United were expected to go into this transfer window hamstrung by Profit and Sustainability Rules, not to mention the failure to qualify for the Champions League making next year’s balance sheet tricky too.
It was believed that Sir Jim Ratcliffe and Co. would mainly be focused on trimming the wage bill, with Erik ten Hag’s ability to bring through youngsters coming to the fore.
Besides, trimming the wage bill would net United some cash which they can then use to strengthen.
So much about that messaging. United’s summer so far makes it seem like all that was a smokescreen for rivals as they’ve already agreed a deal for Joshua Zirkzee, sent a bid for Matthijs de Ligt, and have concrete interest in Manuel Ugarte. That would easily wipe away all of United’s transfer budget of the summer.
Therefore, their latest audacious swoop makes it certain that they’ve achieved their first big sale of the window.
An audacious bid, a big sale- The timeline
Just as the news arrived that Olympique Marseille have sent in a formal bid for Mason Greenwood with the agreement getting closer, things started moving elsewhere too.
The bid is reportedly in the region of £27 million with a healthy sell-on clause and due to the player being an academy product, it goes down as pure profit on the books.
That development had barely rested when it emerged that United had made their next big move in the transfer market.
The club reportedly sent in an improved offer for Everton’s Jarrad Branthwaite, taking the figures up to £45 million with £5 million in add-ons.
If we assume that United are paying Zirkzee’s release clause of £34 million, De Ligt’s transfer fee is around £40 million and Ugarte’s ends up being around £45 million, that is beyond the £100 million mark.
Especially Zirkzee’s clause, which United will have to pay in one go upfront, is expected to cause cashflow issues.
Therefore, it only makes sense that the club has already agreed an exit for Greenwood, with his £27 million fee relieving a huge stress on the balance sheet. De Ligt and Ugarte’s fees will be spread over the course of their contract so if the pair signs for five years, then their hit on the sheet will only be about £17 million this year, combined. (40/5=8, 45/5=9, 8+9=17).
On the other hand, the incoming fee for Greenwood gets added straight in as a lump sum, also freeing up nearly £100,000/week in wages.
Proactive and smart moves
United are making smart moves in this market. They are buying before selling so other clubs can’t hold them to ransom in negotiations.
Furthermore, Ineos have already separated themselves from the Glazers by fixing their biggest mistake and being ruthless in selling. Deals are moving along quickly and decisively.
Branthwaite deal is one such move where United hold all the cards. Signing De Ligt strengthens their hand. If they manage to get the Englishman, it will be on their terms and if they don’t, it resets the club image in the market that they will no longer pay “United tax”.
They say “Begin as you mean to go along”. For Ineos at United, the beginning has been extremely promising.
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