Man Utd open talks with PSV over Cody Gakpo transfer with World Cup star potentially available for less than £50m

• Red Devils make contact with PSV
• £50m should be enough to land move
• Dutch club in financial trouble after UCL failure

WHAT'S HAPPENING? A report from The Mirror has revealed that the Dutch club's looming financial problems means they are prepared to cash in on their most prized asset. The news comes after PSV's sporting director Marcel Brands admitted they would be open to selling Gakpo for a club-record fee, although new information suggests that £50m ($60.2m) would be enough for the club to part ways with the player.

THE BIGGER PICTURE: PSV pulled out of a deal with Leeds United at the 11th hour of the summer window, with Gakpo's price then set at £40m ($48.1m). However, the club now faces the financial burden of not qualifying for the Champions League after their play-off defeat to Rangers over two legs back in August. As a result, the club's chief financial officer Ton van Been is looking to get a deal over the line in January to quell these economic troubles.

AND WHAT'S MORE: United first made contact with PSV back in August as Gakpo was Erik ten Hag's first transfer target upon his arrival in the summer. The 23-year-old made it clear back then that personal terms would not be an issue, meaning the only problem to resolve would be the club's asking price. It is understood that the Red Devils have the upper hand over other interested clubs - including Real Madrid, Arsenal and Newcastle - as they have already begun negotiations with the Dutch club.

STORY IN THREE PHOTOS:

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WHAT NEXT? With United making first contact, it remains to be seen whether the two parties can reach an agreement over the asking price. If that is successful, personal terms should not be an issue and Gakpo could be announced as a new Red Devil.