Why Manchester United are concerned about FFP in transfer window and what a takeover could change

It is three words that could yet come to dominate Manchester United's transfer window. Ever since the club's record-breaking spending last summer, the spectre of Financial Fair Play has loomed large over the discussion around what comes next.

United went over budget a year ago, spending £225million on new players in Erik ten Hag's first summer as manager, and that meant i in January they were shopping in the sales when gaps appeared in their squad. Jack Butland, Marcel Sabitzer and Wout Weghorst all arrived in cut-price loan deals.

That was put down to FFP concerns after that summer spend, while United also owed £307m in transfer fees earlier this year, a total that is likely to be playing a significant factor in their concerns, especially when it comes to UEFA's new rules. Now the second summer window under Ten Hag is in full swing and United are still trying to make every penny count.

It is understood that Ten Hag and football director John Murtough have a budget of £100m to £120m this summer, although player sales can top that up. But when United could potentially need a new goalkeeper, midfielder and striker, they will have to pull a rabbit out of the hat somewhere.

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It helps to explain why they've baulked at Chelsea's £65m asking price for Mason Mount, having seen three bids rejected for the 24-year-old. But those FFP issues are likely to relate to losses the club has incurred and are hard to gauge due to the Covid-19 pandemic, which some leeway introduced into financial results.

UEFA introduced new financial sustainability regulations just over a year ago. An area of concern to many clubs is their squad cost rule, which come 2025/26 will