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Exec: Champions League miss to cost Manchester United $50 million in revenue

May 15, 2014, 11:12 AM EDT

Woodward AP

For a brand that prides itself on being “global,” Manchester United will be hit hard by their failure to play in any European tournament next year.

On a conference call to summarize the club’s end of season financial report, Manchester United chief executive Ed Woodward confirmed missing out on the Champions League could seriously cost the team.

Woodward (pictured, center) said he expects the failure to qualify for European play to cost the club upwards of $50 million, and with the club already in serious debt, that could hurt their spending power this summer.

“We estimate that the isolated impact…of not qualifying for European football will be in the mid-30 millions of pounds,” Woodward confirmed. “This includes a 15% reduction in the price of executive facilities next year.”

The club’s heavy debt has been widely publicized the past few years, with the club owners, the Glazer family, coming under heavy fire for taking on so much commitment.  However, Woodward did announce that the club’s debt was cut 4.6% this year, bringing it down to $589 million.

The rest of the news wasn’t so good. He mentioned a “single-digit million pounds” payoff to David Moyes as part of his release, and also mentioned that while third quarter revenue was up 26% to $119 million, new player signings and managerial shifts caused staff costs to increase by 19%.

Other highlights from the call include Woodward calling this season “disappointing,” that they hope to make an announcement on the new manager “in due course,” and that they will be “active in the transfer market.”  Seems that Woodward has been conditioned well in the art of coach-speak.

Finally, Woodward insisted, “The club’s expectations, and you will see this reflected in the transfer market, and what we’ve recently done from a managerial perspective, our aim absolutely is to get back into the Champions League.”

Coming from an executive, it’s no surprise they’d like to get back given the bleak financial outlook.

 

  1. beah07 - May 15, 2014 at 2:34 PM

    Yeah, cry me a river, Man Utd. Time for you to learn what it is like in the rest of the league.

    • blugold94 - May 15, 2014 at 2:56 PM

      Exactly right. It isn’t Man U’s permanent domain to play Champions’ League every year. The whole idea of the roof falling in because of one 7th place finish is crazy. I wish an Everton or a Southampton could get the benefit of Champions’ League play once in a while…as they would certainly appreciate for more than than just some more money to bathe in like for Man U.

  2. mazblast - May 15, 2014 at 2:46 PM

    What are we supposed to do, MU? Take up a collection so you can have your accustomed amount of Euro-loot?

    Like the first commenter said, cry me a river. Perhaps if you had chosen your manager better, or had fewer prima donna players, or not assumed that your opponents would fall down at the mere mention of your Holy name, or had less of a “We are Man U and you are mere mortals, therefore you should prostrate yourselves before Us” attitude, you’d receive more sympathy. As it is, you finished seventh and not only out of the Champions League but even out of Europa League status.

    Live with it.

  3. drewvt6 - May 15, 2014 at 4:54 PM

    Sure $50million might hurt a team like Everton, but Manchester United will make this all up in advertising dollars. The only thing this $50million is, as an excuse to the fans for not spending like Barca or Real Madrid or Bayern Munich or City this off season.

  4. footballer4ever - May 15, 2014 at 11:20 PM

    ManU will recover some of that revenue loss when they come and play in the US at Guiness International Champions Cup.

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