Louis van Gaal
Louis van Gaal will be given an unrestricted budget yet again next summer as the manager continues his Old Trafford overhaul. Getty Images

Manchester United are reportedly planning yet another splurge during next year's summer transfer window and could top the £150m spent this summer, which saw the arrival of Angel di Maria, Daley Blind, Marcos Rojo, Ander Herrera, Luke Shaw and Radamel Falcao.

According to the Guardian, the Old Trafford club's hierarchy wants to emulate Real Madrid's strategy and recruit top players for every position. It is believed that they have told Louis van Gaal that he will have an unrestricted budget to work with and can again top the British transfer record they paid for Angel di Maria this summer.

The Dutchman is targeting a minimum of five signings, as he looks to sign a midfielder, a right-back, one or two central defenders, and a winger and could go for a striker, if he decides not to convert Radamel Falcao's loan deal to a permanent one.

United are linked to various players in recent months, but the manager has zeroed in on the players he would like to bring in to the club to complete his Old Trafford revamp. He has earmarked Barcelona's Dani Alves, Arjen Robben from Bayern Munich, Mats Hummels and Diego Godin from Borussia Dortmund and Atletico Madrid respectively and midfield lynchpin Kevin Strootman from Serie A club AS Roma.

The outlay of funds needed to sign the above mentioned players will take United's two-year spend over £350m and the report claims that senior figures within the club are open to spending the funds as they believe it is needed to take United back to the top and get back to challenging for trophies on all fronts domestically and in Europe.

With the Manchester based club going on a massive recruitment drive, there is set to be a massive cull as well with as many as ten players expected to be released and sold during the summer.

The main departures are going to be the players on loan, Tom Cleverly, Nani, Nick Powell, Javier Hernandez, Reece James and Michael Keene. Apart from the above mentioned, the second choice keeper Anders Lindegaard is also set to leave, and could depart in January.

Anderson and Darren Fletcher are also on the final year of their contract and could be allowed to leave at the end of the current campaign.

A couple of players who the hierarchy are keen to hold on to are Michael Carrick and David de Gea. The former is on the final year of his contract and United are hoping to exercise the option of a one-year extension and the latter, who will have 18 months on his deal following this year is also viewed as a key part of the team and will be given an improved deal to ward off interested clubs like Real Madrid.