A dejected Manchester United head coach / manager Michael Carrick
Michael Carrick is desperate for a new left-back(Image: Robbie Jay Barratt/Getty Images)
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It remains an oddity that Manchester United's record transfer fee came a decade ago.
Back in August 2016, the £89million United paid Juventus to bring Paul Pogba back was truly blockbuster, a fee from the future. It sent shockwaves across the football landscape.
The fact it hasn't been eclipsed in the 20 transfer windows since is telling. It reflects the fact that United haven't won the Premier League since Sir Alex Ferguson's departure in 2013 and the austerity with which owners the Glazers have run things.
Sir Jim Ratcliffe's arrival in February 2024 was followed by a drastic cost-cutting effort which still hasn't had the desired effect. This summer's transfer window has shown where United lag behind their Premier League rivals.
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To United, the signing of Carlos Baleba for an initial fee of £65m plus £5m in add-ons is a hugely significant one. But right across the Premier League such a fee is now almost run-of-the-mill, as United have noted internally after pulling out of the race for Mateus Fernandes and Sandro Tonali, who both moved to Tottenham for a combined £185m.
Premier League sides have cumulatively splashed out over £2bn this summer and there is plenty more to come, with some colossal transfers in the pipeline ahead of the September 1 deadline. Liverpool are in negotiations with Paris Saint-Germain for Bradley Barcola, Manchester City want Enzo Fernandez from Chelsea, Arsenal are eyeing Atletico Madrid's Julian Alvarez.
United, meanwhile, are trying to bring in a left-back to compete with Luke Shaw. And they are trying to do so on the cheap.
Newcastle United defender Lewis Hall
Lewis Hall appears to be out of reach for Manchester United(Image: Paul ELLIS / AFP via Getty Images)
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They are unwilling to pay Barcelona's asking price for Alejandro Balde and have reportedly asked for a loan deal. Jorge Salinas, a 19-year-old from Racing Santander, is another option for a release clause of €16m (£13.6m).
Lewis Hall was always United's first-choice target. But Newcastle's reluctance to sell stopped United dead in their tracks, because unlike some of their rivals, they are unable to throw their financial weight around.
United's most recent financial accounts showed they owe £405.75m in outstanding transfer fees, of which £171.14m is due after more than one year. The other heavy weight around their neck is the wage bill.
The £325,000-a-week contract handed to Marcus Rashford in July 2023 is a much-publicised problem. But, as Ratcliffe has publicly stated, the club are over-paying several other players.
Joshua Zirkzee.
Manchester United are still trying to sell Joshua Zirkzee (Image: Ash Donelon/Manchester United via Getty Images)
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Manuel Ugarte cost £50m two years ago from PSG, has offered very little on the pitch and is paid £150,000 per week. Now injured, he is the sort of drain on finances the club will seek to avoid in future.
The return to the Champions League was a huge boost for the club - worth an estimated £50m to £100m in additional revenue - but came with a sting in the tail, with a handful of players, including Mason Mount and Andre Onana, automatically getting a 25 per cent wage increase.
United have now changed the clause, meaning players have to feature in 60 per cent of the team's minutes to qualify. But for the time being they are still feeling the effects of past decisions.
Joshua Zirkzee wasn't among the players to get the wage uplift, but United have still so far been unable to find a buyer for the unwanted striker. He is emblematic of the club's current situation and why Michael Carrick will have to be understanding if his desire for a top-level left-back isn't fulfilled in the coming days.
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