Manchester United's first Sir Jim Ratcliffe-backed summer transfer budget is likely to be affected by financial fair play restrictions, according to a new report.
Failure to qualify for next season's Champions League could also have a detrimental impact on United's ability to spend, the Telegraph state, though Erik ten Hag's side have every chance of finishing inside the Premier League's top four after an impressive run of recent form.
A fifth Champions League qualification berth could open up to Premier League sides, but England's current coefficient ranking - a system that rewards the best collective performance by clubs in UEFA men's club competitions - is currently lower than Italy's and Germany's.
Ratcliffe's investment into United was confirmed on Tuesday night, with the British billionaire taking an initial 27.7 per cent shareholding of the club, and one of the first orders of business for INEOS' chairman is to take full control of football operations. Plans are already in place to restructure the club's hierarchy and radically overhaul how United operate in the transfer market.
Newcastle United's Dan Ashworth is United's primary target to become sporting director - he has already commenced a period of gardening leave at St. James' Park as the two clubs look to agree a compensation fee - and Southampton's Jason Wilcox is also in the club's crosshairs. Manchester City's former COO, Omer Berrada, has already taken up a position at Old Trafford.
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The Telegraph's report outlines that United's extravagant spending over the past two years could come back to haunt them, given that Ole Gunnar Solskjaer's final summer in charge saw large amounts of money invested into Raphael Varane, Jadon Sancho and Cristiano Ronaldo, and tight financial constraints are one reason why the club failed to invest in January.
Ten Hag is known to want additional firepower up front, with the burden of goalscoring currently falling squarely on the shoulders of Rasmus Hojlund, but 90min revealed at the beginning of January that outgoings would be required in order to free up funds.
Raphael Varane and Casemiro are two high-earning players on the summer chopping block, while Anthony Martial could also be shipped out on a permanent basis after continuing to struggle for form and goals.
United's spending power could diminish further if they don't qualify for the Champions League - getting through to the group stages is worth a guaranteed £40m to the club.