Finance expert explains how a £400m problem is in Man United’s way to sign Bryan Mbeumo

Sir Jim Ratcliffe has been open about United’s financial struggles, with the club dealing with significant debts.

Much of that comes from outstanding payments on previous transfers. Football finance expert Kieran Maguire thinks this could be a big reason why things are taking so long with Mbeumo.

Speaking on GRV Media’s Beyond the Back Four podcast, Maguire said: “I think it comes down to strength. If you look at any negotiation environment, you might have two parties who have equal power, you might have one with greater power than the other.

“Brentford don’t need to sell. The player still has a period of his contract remaining, so they are prepared to be patient.

“If you look at [Moises] Caicedo, eventually going to Chelsea but Arsenal had bid £60m six months earlier when Brighton were in a position where they didn’t need to sell.

“They then agreed a deal with Liverpool and the player decided he didn’t want to go. All three elements of this have got to work out.

“There’s no doubt that Mbeumo wants to play at Old Trafford – Manchester United are a destination club, everybody acknowledges that.”

He added: “But Brentford, in my opinion, are one of the savviest, if not the savviest club in the Premier League.”

Maguire continued: “Matthew Benham is an extremely smart guy and he won’t be brow-beaten in terms of the cash flows. Everybody focuses on the price, but is it a case of getting £60m up front, or is it spread over three years or spread over five years? That has a huge implication for Brentford and their budget.

“You look at Manchester United, they owe £400m in outstanding transfer fees so they can’t afford to write out a cheque for £65m or £70m this summer. So trying to get the nuances of the cash flows correct has to work for all parties.”

Ineos still dealing with issues left over from Glazer Era

Even though Ineos now have sporting control, Ratcliffe only holds a minority stake, and the current leadership is still dealing with problems that began long before they arrived.

The club’s debt has reached over £730 million under the Glazers, and as Maguire pointed out, there’s also £400 million owed in transfer instalments.

Much of this shift is driven by financial necessity, as United can no longer afford to spend as freely as they once did.

In terms of sales, Ineos are struggling to offload players signed under the Glazers, as their contracts include wages that other clubs aren’t willing to match.

The lack of European football this season means United are also missing out on roughly £100m in Champions League revenue. That shortfall will significantly impact their summer spending power.

Ineos have no choice but to take a cautious approach in the market if they want to avoid repeating past mistakes and overspending on deals that don’t make sense for the club’s current situation.