Manchester United still has a £200 million budget for the summer transfer window, revealing Sir Jim Ratcliffe's price cap for signings. There may be no new arrivals for preseason training.

The Reds will begin their new season preparations in a fortnight, yet it's possible that no new faces will be present on the list. The €45 million (£39 million) signing of Ederson is just one step away from being confirmed, but he requires rest after the World Cup and won't participate in training. Other potential signings are unlikely to be finalized by July 8th.

It is widely believed that Matheus Fernandes will be the second midfielder to join United, but Tottenham's interest has complicated the deal, likely prolonging negotiations. Last year, because Spurs joined the race for Mbeumo, United had to pay a total of £71 million to Brentford for him.

Apart from one or two new midfielders, United also want to sign a left-sided player, either a winger or left-back. A backup goalkeeper might also be needed after André Onana, Altay Bayındır, and Radek Vítek depart. If there is surplus budget, they could consider a reserve striker. In total, there are six potential transfer targets.

Ten Hag is not worried about having few players for early summer friendlies. In the first two matches—against Wrexham in Helsinki on July 18th and against Rosenborg in Trondheim on July 24th—his squad might not even need to rely heavily on academy players.

For example, United's starting lineup could be: Tom Heaton, Leny Yoro, Harry Maguire, Eden Heaven, Luke Shaw, Mason Mount, Jack Fletcher, Mbeumo, Joshua Zirkzee, Patrick Dorgu, and Benjamin Šeško.

United's transfer activity usually picks up in July. Two years ago, Zirkzee and Leny Yoro signed within four days of the start of preseason. Last year, Mbeumo boarded the flight to Chicago in time for the three-match US tour.

It is reported that United hopes to complete all transfers before August 9th, by which time World Cup players will have returned. The full squad will train in Dublin for a week, followed by the final two friendlies against Leeds United and AC Milan, marking the last preparation period before the Premier League opener against Hull City on August 22nd.

Which players United eventually signs depends on several factors, such as the ability to sell existing players like Ugarte, Rashford, and Zirkzee. According to Samuel Luckhurst, Manchester United correspondent for The Sun, Ten Hag still has a £200 million transfer budget after buying Ederson, and selling surplus players could increase that amount.

However, due to high player prices, this money may seem like a lot but actually won't buy many players. Therefore, the arrival of a third midfielder depends on selling Ugarte; signing a new winger requires Rashford's departure; and bringing in a backup striker for Šeško hinges on Zirkzee's future.

Zirkzee was the first player signed after Ratcliffe's takeover. The club will not force him out, but if the Dutch striker stays, United cannot bring in a replacement.

At Ratcliffe's request, United CEO Omar Berrada has set an informal rule for signings: the fixed transfer fee for any single player must not exceed £70 million. Variable add-ons can push the total above this limit.

Last summer, Mbeumo's total fee was £71 million, but the fixed part was £65 million; Šeško's transfer was €85 million (£73 million), with a fixed amount of £66.26 million. United is also sticking to this amount when pursuing M. Fernandes, but with increased competition, it's questionable whether Ratcliffe can maintain this principle.