New Manchester United boss Louis van Gaal will be handed the cash to shatter the transfer world record if he wishes to, according to the club's executive vice-chairman Ed Woodward.
The current record stands at £86 million (€109m) - the fee Real Madrid paid for Gareth Bale from Tottenham last year - but Woodward says Manchester United would have no problem paying more than that for an individual because of their financial muscle.
"It’s difficult to deal in hypotheticals based on lots of different things,” Woodward said when asked about the club's spending. “The reality is that we’re not afraid of spending significant amounts of money in the transfer market.”
He added: “Whether it’s a record or not doesn’t really resonate with us. What resonates is an elite player that the manager wants who is going to be a star for Manchester United.”
Manchester United have already spent around £60 million on Luke Shaw and Ander Herrera so far this summer with plenty more new faces to follow. However the fact they have announced a record-breaking £750 million kit deal with Adidas will help them spend big in the transfer market.
It was previously reported that Van Gaal would be handed around £200 million to overhaul Manchester United's squad this summer, but Woodward says there is no set figure on what the Dutchman will be allowed to spend.
“I stand by what I said – there is no budget. We are in a very strong financial position. We can make big signings," he insisted.
"That doesn’t mean we go and throw money around. Louis is the manager. We have a lot of scouting output through the last 12 months, flagging up various things to us.
"Louis is the one that makes the ultimate decision around who he wants in the squad. I’m not going to force feed him with a player that he hasn’t selected.”
In recent months Manchester United have been linked with a host of players, including Juventus ace Arturo Vidal. However according to the Guardian, Van Gaal is currently working on deals for Ajax midfielder Daley Blind, Arsenal defender Thomas Vermaelen and Borussia Dortmund defender Mats Hummels.
Rio Ferdinand, Patrice Evra and Nemanja Vidic have all left Old Trafford, while a host of players including the likes of Wilfried Zaha and Ashley Young as part of the revamp.
"We’re still looking at options," said Woodward of Manchester United's transfer targets. "We’re not sitting on our hands waiting for Louis. He is very good at communicating clearly what he wants.”