Manchester United ‘could spend £100m on a striker’, says finance expert

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Could Manchester United be leaving their biggest signing until the end of the transfer window?

That is often the way it pans out in football. As we near transfer deadline day, weeks of back-and-forth negotiations will finally come to a dramatic climax.

United – for once – have got much of their business done and dusted early.

Joshua Zirkzee was the first to arrive this summer and Leny Yoro also joined in time for the tour of the United States to bolster Erik ten Hag’s defensive department.

But with injuries to Rasmus Hojlund, Yoro, Luke Shaw and Will Fish – who was set for an increased role this season – United suddenly found themselves with scarily little depth in defence and attack.

The need for defensive reinforcements was addressed with a double deal for Matthijs de Ligt and Noussair Mazraoui. The duo could make their debuts in United’s Premier League opener against Fulham on Friday.

With just over two weeks remaining until transfer deadline day, United still have plenty of time to make extra additions – but how much is left in the club’s budget?

Finance expert on Manchester United budget

One area United could look to add depth is up front, with Hojlund set to miss the start of the season through injury.

United continue to be linked to big-name strikers, including Ivan Toney who is now available for £40million.

Football finance expert Adam Williams gives his verdict on how much United have left to spend this summer and whether they could afford a “£100million striker”.

“Unlike other clubs, we have got the financial data for the first three quarters of 2023/24 due to United’s disclosure requirements as a publicly traded club on the NYSE,” Williams said.

“Their player amortisation bill – that’s how transfer fees are accounted for over time – was £141m for the first three quarters, which suggests that the final bill for the season will be around £190m.

“That’s a £20m upswing on their £170m bill in 2022-23.

“Wages fell last season but, again, they will pick up again to around £370m. That’s based on the excellent Swiss Ramble’s analysis.

“He also estimates that United, who thanks to their Covid allowances and other PSR-deductible expenses for 2023-24 appear confident that they have crept in under the allowable loss threshold, have lost £45m for the financial year.

READ MORE: Premier League PSR rules explained: Man Utd spending restrictions and punishments club could face

“It was a more modest loss the previous season, so I’d guess that they are able to post a similar loss as they did in 2024-25 and comply with PSR.

“They have a negative net spend of about £50m in the window so far, but you have to bear in mind that, for PSR purposes, they get the received fees upfront whereas Zirkzee and Yoro’s fees will only constitute about £20m in amortisation in this financial year.

“The same applies to De Ligt and Mazraoui, whose £50m combined fees will take about £10m off the PSR calculation.

“With £15m for Wan-Bissaka, United’s net amortisation increase is only £15m in this financial year.

“You have to factor in the wages of course, but I think the outgoings and incomings are probably about even in that regard.

“That is a long-winded way of saying that, if they want to, they could probably quite easily go and spend £50m or maybe even £100m on a new striker.

Sir Jim Ratcliffe’s decision

United’s new-look boardroom have impressed so far this summer. Business has been snappy and signings have been shrewd. Excitement is building within the fanbase.

That excitement will only increase if United go and poach a star striker this summer. Williams explains that the decision ultimately will come down to whether Sir Jim Ratcliffe is willing to reach into his pockets.

“However, that would depend on whether Ratcliffe and INEOS are prepared to sanction the outlay,” Williams continued.

READ MORE: Sir Jim Ratcliffe couldn’t be any clearer about his future and his message is exactly what Man Utd fans will want to hear

“It is tempting to look at things squarely through the lens of PSR in this day and age, but there is a real cash expense here as well.

“Plus, while a £100m striker would only knock off £20m in this year’s PSR calculation, it is not a free hit. The club still have to cover the whole fee over the next five years.

“Ratcliffe has been explicit about his desire to get costs under control at United and maximise their commercial potential. So I wouldn’t expect fireworks in the remaining weeks of the window.”