Manchester United have taken out a £140million loan to help them get through the coronavirus crisis, report The Sun.
The move should go some way to ensuring Ole Gunnar Solskjaer can still bring in major signings – such as Jadon Sancho – when the transfer window reopens.
United’s finances took a big dent after signing £85m Harry Maguire and Bruno Fernandes for an initial £46.6m.
Covid-19 has hit the club hard and they have opted to access almost all of a £150m credit facility they had with the Bank of America.
The money should ensure United can withstand the impact while also remain highly competitive in the transfer market.
The cash should ensure United can withstand the impact but some of it can also be spent on signings.
Boss Solskjaer wants Borussia Dortmund forward Sancho and Aston Villa midfielder Jack Grealish.
But chief Ed Woodward suggested the worst of the impact is yet to come.
United revealed revenues for the first three months of 2020 were down almost £30m — while net debt soared to £429.1m.
The first 18 days of lockdown cost them £23m, with Woodward insisting: “It will not be business as usual for some time.”
United sources say the loan will be used mainly to safeguard the club through this tough period.
