Manchester United’s Income Drops By £30m

Posted by African Examiner Latest Headlines, Trending Stories Thursday, May 15th, 2014

Manchester United executive vice-chairman Ed Woodward has revealed the failure to secure European football will cost the club over £30m.

United’s seventh-placed finish was their worst since the 1989-90 season.

“We estimate our loss of European football will cost us in the mid £30millions,” said Woodward, who also touched on United’s managerial vacancy.

“We are focused on bringing in a manager. An announcement will be made in due course.”

Woodward confirmed the sum during an investors’ conference call.

Netherlands coach Louis van Gaal has agreed a three-year contract to replace David Moyes, who was sacked in April.

And is thought to have offered the 40-year-old the role of assistant manager.

The appointment of Van Gaal is now likely to be at some point after the Dutch play a friendly against Ecuador in Amsterdam on Saturday.

As Van Gaal’s squad are not due to meet up again until Tuesday afternoon, it does provide a window of opportunity for United to tidy up their business.

The 62-year-old does not seem too bothered by the situation, judging by his response to a question about the treatment Robin van Persie received from United on the knee injury he sustained against Olympiakos in March

“I know what he did at Manchester,” said Van Gaal. “That is very easy nowadays of course.” Van Gaal did point out it was “a good joke”.

Woodward confirmed the cost incurred during Moyes’ ill-fated tenure goes beyond the hit they will have to take in lost European revenue.

BBC News