Man Utd suffer transfer blow as target signs new deal amid Ratcliffe restriction
Manchester United transfer target Ivan Provedel has signed a new deal with Lazio, committing his long-term future to the club.
Reports from Italy claimed in November that the goalkeeper was on United's radar after talks over a contract extension had stalled. However, Provedel has now put an end to those rumours by putting pen to paper on a new contract with Lazio.
"I am very happy and I want to thank the President for this certificate of appreciation towards me," he wrote on social media. "I am proud to be a part of this great family and I hope strongly that we will achieve important sporting achievements together. Always Go Lazio".
It comes after the Telegraph reported that United will be 'severely squeezed by financial fair play restrictions' this summer as new co-owner Sir Jim Ratcliffe attempts to take the club "back to the top of English, European and world football".
Ratcliffe's purchase of a minority stake in the club has now finally been completed after both the Premier League and Football Association approved the deal and he is set to take full control of football matters, including United's transfer business.
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However, the report claims that he will not have much room to manoeuvre this summer given the club have spent £555million on new signings in the last three seasons while also failing to raise much money through player sales.
If the club also fails to qualify for the Champions League, they will suffer another financial blow worth at least £40m. The Premier League's Profit and Sustainability Rules (PSR) mean that clubs are not allowed to lose more than £105m over three years and the report states that they will 'place significant constraints on what the club can spend' this summer.
Ivan Provedel has signed a new deal with Lazio, despite being linked with a move to United (Elianto/Mondadori Portfolio via Getty Images)PSR is why United did not make a single new signing in the January transfer window and they will need to offload players in order to raise funds. A source told the Telegraph: "You can't do it overnight because of FFP and the fact the club has put themselves in a very tough financial position.
"You can't buy your way out of it. You can't do a City because there's no headroom. You can dress things up, invest in infrastructure – you spend as much as you want on the stadium.
"But when it comes to the squad that's going to take time and funding. Clearly restructuring the squad has to be a key part of your agenda but you're tied down by FFP so it's a steady process."
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