Man Utd walk financial tightrope with signings and potential sales | OneFootball

Manchester United’s Summer Balancing Act: Promise, Pressure and Pounds

At Manchester United, the summer transfer window is never a quiet affair. This year, however, there is something different in the air: a sense not of revolution, nor even of reinvention, but of reconstruction. Slowly, methodically, and occasionally expensively, United are reshaping themselves in the image of their new head coach, Ruben Amorim. But behind every purchase, every potential out, every murmur of a fresh approach, lies the echo of something else — debt, expectation and a reputation to repair, as reported by The Athletic.

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Cunha signed, Mbeumo next?

Matheus Cunha’s unveiling marked more than just a first signing. It was also the first public acknowledgement of Jason Wilcox’s new role as director of football, a title that carries with it the promise of overdue clarity and direction at boardroom level. The £62.5 million outlay on Cunha is no small statement. His signing reflects Amorim’s desire for players comfortable in the narrow, creative roles behind the striker — a profile not particularly abundant in United’s current squad.

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Bryan Mbeumo could be next. United’s opening bid of £45 million plus £10 million in add-ons has set the tone, though Tottenham remain hopeful of convincing him to follow his Brentford manager, Thomas Frank, to North London instead. United, for now, remain in the lead. “Mbeumo’s preference is to join United,” notes The Athletic, and that could yet prove decisive.

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This is a recruitment strategy tethered tightly to the tactical blueprint Amorim is installing: a 3-4-2-1 system reliant on intelligent, mobile forwards, and capable midfielders with the lungs to cover endless ground.

More movement required in attack

United’s issues in attack have been glaring. Rasmus Højlund and Joshua Zirkzee combined for just 17 goals in all competitions last season. Cunha and Mbeumo bring options, but do not solve the centre-forward problem. Viktor Gyökeres, who flourished under Amorim at Sporting CP, remains a target, though Arsenal’s Champions League status could tempt the Swede elsewhere.

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There has also been exploratory contact with Eintracht Frankfurt over Hugo Ekitike. The €100 million price tag, though steep, reflects the challenge of finding reliable goal scorers in a market starved of them.

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Amorim’s vision is contingent on balance. He needs runners in midfield, natural width in attack, and positional discipline at the back. The squad, as it stands, is ill-equipped to deliver all three. Reinforcements will be required, but so too will departures — not just for the tactical fit, but for the books.

Selling smart, not just for PSR

United’s financial position is curious. Profit and sustainability rules are not the issue — they have plenty of headroom there. But cash flow is something else entirely. With £308.9 million owed in transfer instalments and £175.5 million of that due by March 2026, the club’s revolving credit facility has become both a crutch and a concern.

Despite repaying £50 million of it earlier this year, United’s ability to fund further moves relies on clever sales. “Their outgoings on player transfers, loan interest and the £50million investment at Carrington have squeezed their ability to spend quite so readily,” reports The Athletic. Paying Cunha’s fee over five years was an attempt to manage that squeeze, but Wolves insisted on two. It is a financial tightrope walked in broad daylight.

Antony and the inevitability of loss

Nowhere is this more apparent than in the discussion around Antony. Signed from Ajax for £82 million, the Brazilian remains on United’s books at an estimated £37 million value. Selling him for less would mean writing down a loss. But with Real Betis interested, and with Antony no longer central to Amorim’s plans, it may be a hit United must accept.

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“Selling him would still translate to £6.3million in cash saved across the year,” The Athletic notes, with a salary of £105,000 per week and no European football on the calendar. Those numbers are persuasive. Whether sentiment or stubbornness wins out is another matter.

United’s summer depends not just on who arrives, but who leaves. Rashford, Garnacho, and even Højlund are being watched. Malacia, almost forgotten, would command only a fraction of what was paid for him. A leaner squad is not just preferable — it is essential.

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Our View – EPL Index Analysis

If you’re a Manchester United fan, it’s hard to escape the gnawing sense that the club is once again trying to do three things at once — rebuild the team, restructure the finances and reinvent the culture — and may not quite manage any of them fully.

There are things to like here. Cunha is a strong addition. Mbeumo would be a smart fit. Amorim’s system is at least a plan, something that has been painfully absent in recent years. But every optimistic headline is followed by a line about stretched cash, net debt or amortisation.

The prospect of losing Antony might not hurt sentimentally, but the fact that United would have to take a loss on yet another expensive, underperforming signing is a bitter pill. That same theme runs through discussions about Malacia, and potentially even Rashford.

This isn’t a reset. It’s a reckoning. And while it’s encouraging that the club appear to be working with a football-first mindset, fans are right to feel concerned. The targets are sensible. The system makes sense. But unless the exits start matching the ambitions, this could be another season of partial progress and painful compromise.