Chelsea are also reportedly in a precarious situation, needing to make big-money sales ahead of the 2024/25 campaign to avoid penalties of their own. Clubs, even the size of United and Liverpool, are on the hunt for low-cost signings to help them comply with the regulations.

As a result, both clubs have shown interest in a move for Fulham defender Tosin Ararabioyo. Erik ten Hag and Jurgen Klopp have had to deal with a crippling injury list this season, and the 26-year-old would invariably boost both squads having impressed for the Londoners in the Premier League.

Crucially, the centre-back is also out of contract in the summer, meaning a buyer would not have to stump up a transfer fee. However, Newcastle now threaten to scupper both of their rivals by entering the battle for his signature. According to the Telegraph, the Magpies want to sign both him and Bournemouth's Lloyd Kelly on free deals this summer.

Despite being taken over in 2021, the Tyneside club have been unable to fully benefit from the financial power of the Saudi Public Investment Fund because of their own desire to avoid Premier League penalties. Therefore, Eddie Howe has also turned his attention to acquiring bargains.

The development could signify a ‘double punishment’ for both United and Liverpool. They might miss out on bargain options to increase their numbers at the back in Adarabioyo and Kelly and then if they still intend to make signings defensively, will have to fork out for alternative options. That could then in turn require player sales, particularly for United, to ensure they comply with PSR rules.

For their part, Fulham are reportedly keen to tie the former England youth international down to a new deal and ready to make him their highest earner. Adarabioyo has also been linked with the likes of AC Milan and Marseille, having been free to talk to overseas clubs since January.

He began his career at Manchester City, but after being handed his first senior contract in 2016, would make just eight club appearances in four years amid loan spells at West Brom and Blackburn. The towering defender joined Fulham in 2020, a season in which the Cottagers were relegated from the top flight.

But he played an integral role in them bouncing back by winning the Championship in the 2021/22 season. And despite being plagued by injuries, he’s been key to Marco Silva in the Premier League, and was widely praised for his display in Sunday’s 2-0 win at West Ham.

Kelly, meanwhile, is also liked by Tottenham but they could also miss out to Newcastle. The versatile Englishman, 25, is also out of contract after racking up almost 150 appearances at Bournemouth.