United ready to sell Ugarte at a loss as Leeds' £20m Charles bid is rejected

Manchester United are willing to sell Manuel Ugarte below his purchase price this summer, with INEOS reportedly backing a plan that would see the club reinvest in a third midfielder if the Uruguayan departs Old Trafford.

United paid Paris Saint-Germain £42.3m for Ugarte in 2024, but the 25-year-old has failed to establish himself under Michael Carrick, making just 10 starts in 24 appearances last season. According to The Sun, the club hierarchy are prepared to accept a loss on the deal, with United needing to recoup at least £25.38m to stay compliant with profitability and sustainability rules given Ugarte’s contract runs until 2029. His wage demands are expected to complicate any potential transfer, however, and could yet keep him at the club beyond this window. Ugarte is currently on international duty with Uruguay at the World Cup.

Should the sale go through, Carrick’s side are expected to pursue a third midfield addition to complement the already-confirmed signing of Ederson and their ongoing interest in West Ham’s Mateus Fernandes.

One name on United’s radar, Southampton’s Shea Charles, has attracted a rival bid from Leeds United. The Athletic reports that Leeds submitted a £20m offer for the 22-year-old Northern Ireland international, which Southampton rejected as insufficient, though talks between the two clubs are continuing. United have not yet made a formal approach of their own for Charles.

The connection between United and Charles runs deeper than a scouting report. Director of football Jason Wilcox played a key role in bringing Charles to Southampton from Manchester City in 2023 during his own time at St Mary’s, giving the club an established relationship with the player’s camp.

United finished third in the Premier League last season and return to the Champions League in 2025-26, adding urgency to Carrick’s first full summer in charge. Midfield reinforcement has been identified as the primary area for investment following the departure of Casemiro.