Manchester United could still manage to land their top targets when the transfer window reopens despite the financial uncertainty surrounding football at the moment, a finance expert believes.
Ole Gunnar Solskjaer said United could look to 'exploit' the transfer market when it opens again with the Norwegian looking to strengthen his squad by at least three players in the summer. Despite the financial challenges surrounding Covid-19, football finance expert Kieran Maguire believes United will be in a strong position.
“In a depressed market anyone with cash is in a strong position. And anyone with a strong balance sheet, and United do have that, will be able to leverage on that and get bargains,” Maguire, a football finance lecturer from Liverpool University told Goal. “I think both United and City I would expect them to be able to benefit from the summer transfer market, assuming there is one.”
Borussia Dortmund winger Jadon Sancho, Aston Villa midfielder Jack Grealish and Leicester City star James Maddison are all on Solskjaer’s transfer list and Maguire thinks the current situation will see clubs with less room to haggle on prices.
“Prices will be significantly reduced because clubs have less money. Buying clubs will have less money because of what’s happened and selling clubs will be more desperate for money so it could be they would blink at the first or second offer,” Maguire said. “I think the transfer window will be severely depleted and those clubs whose business model is based on spotting talent and moving it on for profit they will be very vulnerable.”
United announced on Monday they would not be taking the decision to furlough any of their staff and would continue to pay their full wages during the pandemic in addition to goodwill gestures for casual matchday and non-matchday staff. And, despite share price dropping by nearly 30 per cent, financially they should be able to ride the storm of the current crisis.
“United had £100 million of cash in the bank at the end of December but, they will burn through that pretty quickly because their wage bill is £25 million a month,” Maguire explained. “They will start to burn their way through that but they should be fine.
“If there’s one club globally that can ride out this storm better than others I would say it’s United because they do have a more global fanbase and a greater range of commercial partners than anyone else.”