Man Utd ‘most serious contender’ for Sancho signing says expert
Manchester United have reportedly taken out a huge £140million loan that could be used to make signings in this summer's transfer window. The Red Devils are looking to sign Jadon Sancho and Jack Grealish, who have impressed for Borussia Dortmund and Aston Villa this season. And it appears the club have been hit hard by the coronavirus crisis.
According to the Daily Mail, United have taken out a bumper £140m loan ahead of the summer transfer window.
The Premier League has been devoid of action since March, with football grinding to a halt as a result of the coronavirus crisis currently impacting the planet.
It's emerged today that the beautiful game is scheduled to come back in June, although an exact starting date is yet to be revealed.
Yet it appears that United are already planning ahead for the summer transfer window amid their interest in Sancho and Grealish.
It's claimed that they've drawn £140m of their £150m syndicated revolving credit facility (RCF) in order to use funds at the end of the campaign.
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United have claimed they withdrew funds as a precaution to 'increase its cash position, preserve financial flexibility and maintain liquidity during the crisis.'
In previous years, the RCF has been undrawn.
But it appears that United are taking action in case they sign players who would cost more than what they'd receive for current players on the club's books.
And news of this came just days after United chief Ed Woodward had opened up on the club and their financial situation.
He said: “Our focus remains on the health and well-being of our colleagues, fans and partners around the world and we are extremely proud of how those connected to the club have responded during this crisis.
"Since the start of the pandemic, Manchester United and our Foundation have provided assistance to hospitals, charities and schools in our communities, as well as support for frontline workers and vulnerable fans.
"These actions reflect our core values as a club and the resilience through adversity that we have demonstrated many times throughout our long history and will do so again to weather these current challenges.
"In that spirit, we look forward to the team safely returning to the pitch and building on the exciting momentum that Ole and the players had previously achieved, while taking all necessary steps to protect public health.
"Our thoughts remain with all those affected during this unprecedented time.”
Meanwhile, football finance expert Kieran Maguire recently warned United's next set of financial results will be 'horrendous'.
“The lack of Champions League football and the impact of Covid-19 has been seen in United’s latest financial results,” he told Goal.
“They’re poorer than they would be normally but they’re not horrendous.
“The fourth quarter results will be pretty horrendous.
“They’ve still got a huge wage bill to pay and without matches there won’t be as much money coming in, so they will be expecting a big deterioration in the fourth quarter.”