Manchester United may have to take a loss on Manuel Ugarte to make their midfield rebuild work. United signed him from Paris Saint Germain for £42.3million in 2024, but the figure that now matters is £25.38m, the level they would need to reach to avoid a loss under profitability and sustainability rules.

Ugarte's case is not just about accounting. He made 24 appearances for United last season and only 10 starts, and his season rating sits at 6.25. That is the sort of usage pattern that makes a sale easier to imagine, even if the club are only reportedly willing to accept a financial hit rather than confirming a move.

United's midfield rebuild

The reason this matters is the wider plan. United still want another midfielder, with Ederson and the chase for Mateus Fernandes both in the frame, so a decision on Ugarte could decide whether there is room for a third signing.

That is where the numbers start to line up against keeping him. A player signed for £42.3million, used sparingly last season and now sitting on a £25.38m break-even mark is not an obvious long-term building block. United finished third in the Premier League with 71 points, so this is a club trying to upgrade the middle of the pitch, not simply carry last season's squad forward.

The Leeds and Shea Charles angle

The other piece of market pressure is moving around the same area of the pitch. Leeds had a £20m bid turned down for Shea Charles, with The Athletic reporting that the bid fell short of Southampton's asking price, although talks between the clubs are continuing.

There is also a useful background detail here. Jason Wilcox helped Southampton sign Charles from Manchester City in 2023, so the interest is not arriving in a vacuum. Leeds finished 14th in the Premier League with 47 points, which makes their willingness to test the market early more understandable, but it also shows how crowded the midfielder market already is.

United do not need to rush into a clean sale, and they have not done so. They do, though, seem to be weighing up whether Ugarte is a player worth protecting at a premium or a useful asset to move if it opens the door to a different midfield profile. Right now, the second option looks more realistic, because the club's spending plan appears to depend on accepting the loss and moving on.

Written by Jack Mercer with AI-assisted research, cross-checked against 3 outlets. How we work →