Marcus Rashford, pure profit and the PSG move that would impact Manchester United's FFP concerns

The impending departure of Kylian Mbappe from Paris Saint-Germain to what appears increasingly likely to be Real Madrid will set off a chain reaction in the European transfer market.

Mbappe has been courted by Real Madrid president Florentino Perez for some time, and having flirted with the idea of joining the Spanish giants only to stay in the French capital, it now looks like the 25-year-old phenomenon is to arrive in La Liga from next season.

But given that Old Trafford was never a viable destination for Mbappe, what does any of this have to do with Manchester United? A look at the January transfer window would be a good place to start the explanation.

In January 2023 the sums spent by English sides in the window was a staggering £815m. Fast forward a year and it was just £100m as clubs’ concerns over the Premier League’s profit and sustainability rules (PSR) actually having some teeth in the wake of Everton’s 10-point deduction following an independent commission hearing spooked them enough to keep their powder dry until the summer.

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For a number of Premier League clubs, United included, the PSR issues were real, with £105m of allowable losses over a three-year period the limit. And it was enough push back on any desire to spend money in what has traditionally been a window where little value for money is to be found, with selling clubs wanting a premium to part ways with impactful players mid-season.

This summer will see spending resume again, but with PSR and the potential for new regulations to arrive in the Premier League in due course that are closely aligned with