Manchester United chief operating officer, Michael Bolingbroke has announced that the club intend to spend around £40 million in the summer transfer window.

The Red Devils have already splashed out on Japanese midfielder Shinji Kagawa for £17 million and young prospect Nick Powell for £4 million this summer and having spent just over £20 million already, the club could potentially still see several more new faces through the Old Trafford gates.

Though a £20 million kitty does mean United won’t likely be able to pursue the transfer of Sao Paulo and Brazil youngster Lucas Moura any further and it also reveals that if Fergie were to capture wantaway Arsenal captain Robin Van Persie, it would need to be for less than £20 million. The former Premier League champions are also in the race for a new left-back but have failed to agree a valuation with Everton for their England international defender Leighton Baines.

But United face competition from rivals Manchester City and Italian giants Juventus in the race to sign the Dutchman, and reports in recent days have suggested Ferguson is unwilling to spend more than £15million on the player Arsenal value at more than £20m.

Speaking at an investor conference ahead of the clubs stock market attempt, Mr Bolingbroke admitted the club could spend up to £40 million this summer:

“We are giving guidance at the moment that the current transfer period could result in next expenditure nearer £40 million.”

[adrotate banner=”33″]