Manchester United has a £300 million credit limit with Bank of America, which allows for significant spending, according to The Athletic.
To help with cash flow during the COVID-19 pandemic, the Red Devils obtained a line of credit from Bank of America Securities. As a result, they have been able to recruit players since then.
Man United were able to sign Brazilian duo Casemiro and Antony thanks to the short-term loan. They currently owe £206 million on what is referred to as a “company credit card.” The Old Trafford club may make a repayment soon, but they intend to recruit using the same method again in the summer.
They have the ability to spend up to £300 million as long as financial fair play limits are not exceeded. Man United intends to offload more players in order to balance the books. They’re in a lot of debt right now, but that won’t stop them from bolstering the squad. The Red Devils owe £960 million, but have promised to repay a £200 million debt on a “revolving credit facility” by June 30.
Man United still owes around £280 million in future transfer installments, with another £55 million coming from other clubs. Erik ten Hag has no worries with £300 million available to spend if the Glazers are still around during the next transfer window. The manager of the Red Devils wants to bring in new players before the club’s pre-season tour of the United States in July.
Ten Hag is looking for a new striker, an 8/midfielder, and an attacking right-back. There is money on the ground, and it is up to him and the scouts to find the best candidates for the job.
