Manchester United have taken out a £140m loan from their revolving credit facility, suggesting they intend to stick to their summer spending plans despite the financial impact of the coronavirus.
Clubs across the football pyramid have been missing out on substantial sources of income since the coronavirus brought the game to a halt in March.
Last week, United's financial reports showed the club had suffered a drop in broadcasting, match day and retail revenue, while the club's net debt had risen to £429.1m.
The report also revealed that United had cash balances of £90.3m, in addition to access to a further £150m under their revolving credit facility.
According to the Manchester Evening News, the club have opted to dip into this revolving credit facility, drawing out £140m, an act which hints that they could still be prepared to spend big in the transfer market.
The revolving credit facility has not traditionally been accessed during the summer transfer window, but could be used if United's spending plans are tipped to heavily outweigh income made through player sales.
In April, executive vice-chairman Ed Woodward tempered expectations of lavish summer spending at Old Trafford, claiming "it may not be ‘business as usual’ for any clubs, including ourselves" as a result of the coronavirus pandemic.
United's primary summer transfer target is Borussia Dortmund winger Jadon Sancho.
Early in May, 90min revealed that the Red Devils were no longer willing to pay £100m in order to land the 20-year-old, but were still prepared to break their transfer record of £89m which they forked out to secure Paul Pogba's signature in 2016.
However, it has since been suggested that Dortmund are under no pressure to sell Sancho, and will not have their asking price driven down despite the negative financial impact of the coronavirus outbreak.
United are also pursuing Jack Grealish - with the Villa captain's flouting of lockdown not deterring the Red Devils - and Dean Smith's side are reportedly demanding £80m for their talisman.
Birmingham teenager Jude Bellingham is high on United's shopping list, and would likely command a £30m transfer fee.
Source : 90min