Twist in Fernandes transfer: How Tottenham could have the edge over Man United

Spurs could have the advantage for Matheus Fernandes

Tottenham has now made contact with Fernandes’ agent, according to David Ornstein.

Manager Roberto De Zerbi is said to be a big admirer and is pushing for the 21-year-old Portuguese midfielder as part of their rebuild.

West Ham are obviously still recovering from the horrors of relegation and, as such, need to ensure they can scrape up every penny available from any sales.

Manchester United have been in direct talks with West Ham and the player’s camp for weeks and see him as a priority (after pivoting from other targets). Reports indicate Fernandes prefers a move to United, with Bruno Fernandes reportedly involved in persuasion efforts.

Tottenham is at a point where it is looking to raise additional money from its owners, the Lewis family, whereas Manchester United still has significant transfer debt.

There’s also the realistic outlook that this business of losing money, and finishing the last two seasons in unsightly relegation scraps, urgently needs to stop.

As of mid-2026, Manchester United’s net transfer debt (outstanding instalments owed to other clubs, minus what other clubs owe them) is around £360 million.

The Athletic believes that gross transfer payables (what United owes other clubs): Often reported in the £420–450m range in earlier 2025/26 financials (e.g., £422m or £447m gross).

Net figure: Around £314m at the end of December 2025, rising to around the £360 million point later. A substantial portion (£192–209m) is typically due within the next 12 months.

For contrast, Tottenham Hotspur had a net transfer debt (outstanding payables minus receivables) of around £243 million

United have the commercial power, revenue, and borrowing capacity to do this deal without crisis, particularly as a young, high-upside player who might grow in value. The debt might create significant short-term cash flow pressure, and United will likely be asking themselves, ‘Do we desperately need this player, now?’

If West Ham want to guarantee getting the deals on first-pick players done, then Tottenham would surely find it easier to make themselves the preferred choice.

Mateus Fernandes may like the idea of playing alongside Bruno, but there are more working parts to deals than just what the player wants.