Skip to content

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

May 15, 2014, 11:12 AM EST

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.

 

Latest Posts
  1. WATCH: Yedlin to Diskerud to Altidore, and U.S. goes up 2-1 over Chile

    Jan 28, 2015, 7:03 PM EST

    Honduras v United States Getty Images

    Maybe Sunderland just doesn’t know how to use its forwards.

  2. At the half: Altidore, Shea have USMNT leading Chile 2-1 (video)

    Jan 28, 2015, 6:54 PM EST

    @USSoccer @USSoccer

    It was sloppy at times, with the States very much getting used to the 3-5-2 and both sides using a bevy of second-choice players.

  3. WATCH: Brek Shea opens the scoring for the USMNT in Chile

    Jan 28, 2015, 6:48 PM EST

    Ukraine v USA - International Friendly Getty Images

    Brek Shea’s first USMNT goal in a year and a half was a pretty nice finish.

  4. WATCH: Who throws a shoe (at a ref)? Arda Turan in Atleti’s loss to Barca

    Jan 28, 2015, 5:45 PM EST

    2fc2d5e8ed7f8aa879db8540f8f644b0 Getty Images

    Arda Turan was fouled, losing his shoe in the process. Since the linesman didn’t deem the offense worthy of a foul, Turan had one recourse.

  5. Klinsmann goes 3-5-2 versus Chile; Shea and Yedlin on the wings

    Jan 28, 2015, 5:00 PM EST

    @USSoccer @USSoccer

    Real Salt Lake’s Nick Rimando is between the sticks for the States, and Jermaine Jones continues his time as a center back.

  6. Sheffield United 2-2 Tottenham: Eriksen sees Spurs to All-London final in absolute thriller

    Jan 28, 2015, 4:52 PM EST

    Sheffield United v Tottenham Hotspur - Capital One Cup Semi-Final: Second Leg Getty Images

    After a thriller at Bramall Lane, Chelsea and Spurs will duke it out on March 1 in their shared home city for the League Cup.

  7. Africa Cup of Nations roundup: Lots will be drawn to determine second place in Group D

    Jan 28, 2015, 3:57 PM EST

    FBL-AFR-2015-MATCH23-CMR-CIV Getty Images

    The lots will be drawn at 10am ET on Thursday. Winner gets Ghana on Feb. 1.

  8. U.S. international Sacha Kljestan signs for New York Red Bulls

    Jan 28, 2015, 3:01 PM EST

    Galatasaray AS v RSC Anderlecht - UEFA Champions League Getty Images

    Huge trade now makes sense as Kljestan arrives in MLS.

  9. Transfer rumor roundup: Cuadrado can join Chelsea for $40 million say Fiorentina

    Jan 28, 2015, 2:39 PM EST

    ACF Fiorentina v SSC Napoli - Serie A Getty Images

    With less than a week left in the window, here’s the latest gossip…

  10. Queens Park Rangers’ Canadian winger Junior Hoilett on Toronto FC, relegation battles and more

    Jan 28, 2015, 2:00 PM EST

    Queens Park Rangers v Crystal Palace - Premier League Getty Images

    Toronto native Hoilett chats to PST about MLS, being involved in a Premier League relegation battle and much more in this one-on-one.

  11. Arsenal make it official, sign Brazilian defender Gabriel Paulista from Villarreal

    Jan 28, 2015, 1:10 PM EST

    FBL-EUR-C3-APOLLON-VILLARREAL FBL-EUR-C3-APOLLON-VILLARREAL

    Wenger get’s his man as Arsenal’s new center back has finally arrived.

  12. English FA charge Chelsea’s Diego Costa with violent conduct after stamp, may miss Man City match

    Jan 28, 2015, 12:28 PM EST

    FBL-ENG-LCUP-CHELSEA-LIVERPOOL FBL-ENG-LCUP-CHELSEA-LIVERPOOL

    Costa could miss Chelsea’s massive clash against Man City on Saturday. All the details, here.

  13. Chelsea sweating on fitness of Cesc Fabregas, plus others, ahead of Manchester City match

    Jan 28, 2015, 11:47 AM EST

    Chelsea v Arsenal - Premier League Getty Images

    Chelsea’s injury problems are piling up ahead of their huge tilt against City this Saturday.

  14. Real Madrid’s Cristiano Ronaldo handed two-game ban after red card

    Jan 28, 2015, 10:36 AM EST

    FBL-ESP-LIGA-CORDOBA-REALMADRID FBL-ESP-LIGA-CORDOBA-REALMADRID

    After seeing red, Ronaldo will now miss Real’s next two games after ban for violent conduct.

  15. Luis Figo the latest to challenge Sepp Blatter for FIFA presidency

    Jan 28, 2015, 10:10 AM EST

    Draws for UEFA Champions League Draws for UEFA Champions League

    Is Figo the man to take charge of world’s soccer’s governing body?

  16. Men in Blazers podcast: Talking FA Cup upsets with guests Spencer Lanning, Josh Scobee

    Jan 28, 2015, 9:25 AM EST

    meninblazers

    Super Bowl week brings out two NFL players for the latest podcast.

  17. Gareth Bale dismisses Manchester United speculation, happy at Real Madrid

    Jan 28, 2015, 7:55 AM EST

    Gareth Bale Gareth Bale

    Bale tells Spanish radio station that he’s hanging around in the Spanish capital for some time to come.

  18. Analyzing the Impact/Red Bulls deal: Is Kljestan worth losing Alexander?

    Jan 27, 2015, 11:01 PM EST

    New York Red Bulls v FC Dallas Getty Images

    Already it feels like Montreal has a major chance to be the winner in this deal, and that’s before they do anything with the allocation money.

  19. Tuesday’s transfer rumor roundup: LVG squashes Januzaj loan, Campbell heads to La Liga

    Jan 27, 2015, 10:05 PM EST

    Januzaj Getty Images

    It certainly wasn’t the wildest of days for the transfer rumor mill, but Manchester United, Southampton and Crystal Palace all said hello.

Featured video

Top five Premier League goals: Week 22