May 15, 2014, 11:12 AM EST
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.
Nov 24, 2014, 12:36 PM EST
Seven of his eight appearances have been substitutions, all in the 76th minute or later.
Nov 24, 2014, 11:35 AM EST
No one told Wright-Phillips another yellow card would keep him out of an MLS Cup Playoff game. Pretty unsettling if you’re a Red Bulls fan.
Nov 24, 2014, 10:45 AM EST
Arteta felt they were dominating the game before an own goal from Kieran Gibbs changed the temperature and, at the risk of losing something in the language, doesn’t think highly of the Red Devils.
Nov 24, 2014, 9:46 AM EST
It wasn’t quite a number that rivaled top American matches, but women’s soccer in England can take an extra bow.
Nov 24, 2014, 9:09 AM EST
A trio of American attackers scored goals and a bevy of defenders and netminders worked good shifts in the own end.
Nov 24, 2014, 8:20 AM EST
Certainly keepers like David De Gea, Tim Howard, Wojciech Szczesny, Hugo Lloris and Salvatore Sirigu are scratching their heads.
Nov 24, 2014, 7:30 AM EST
Two teams on very different form meet on NBCSN to finish off the weekend’s Premier League action.
La Liga and Serie A roundup: Valencia, Napoli falter in Champions League bids; Milan derby a stalemate
Nov 23, 2014, 10:20 PM EST
Catch up on all of Sunday’s action and movement in La Liga and Serie A.
Nov 23, 2014, 8:15 PM EST
The Revs and Galaxy may both hold one-goal advantages, but they’re very different leads built in very different ways.
Nov 23, 2014, 7:45 PM EST
The Crystal Palace manager hailed his side’s “Neil Warnock performance” as they pull themselves out of the relegation zone.
Nov 23, 2014, 7:14 PM EST
The Galaxy find themselves just 90 minutes from the third MLS Cup final in four years after a narrow victory over the Sounders.
Halftime, MLS Cup Playoffs: LA Galaxy, Seattle Sounders in 0-0 Western Conference Championship stalemate
Nov 23, 2014, 6:05 PM EST
Zeroes on the scoresheet, but plenty of action in the first half. Sounders very patient, but Galaxy getting close.
Nov 23, 2014, 5:32 PM EST
He’s only ever done it twice in his MLS career, but with the season — and maybe his career — on the line, Thierry Henry will play on artificial turf next week.
Nov 23, 2014, 4:50 PM EST
The Spurs manager wouldn’t be drawn into talk about the winner from Christian Eriksen or the red card to Gaston Ramirez, instead discussing how he was just delighted to get three points any way he can.
Lineups, MLS Cup Playoffs: LA Galaxy host Seattle Sounders in Western Conference Championship, leg 1
Nov 23, 2014, 4:25 PM EST
Lineups are in for the Galaxy and Sounders’ Western Conference Championship first leg matchup. Two massive omissions leave Seattle shorthanded.
Nov 23, 2014, 4:07 PM EST
The Eastern Conference Championship first leg finished Red Bulls 1-2 Revolution, putting Jay Heaps’ side in full control of the series.
Nov 23, 2014, 3:10 PM EST
Steve Bruce challenged the decision to give Gaston Ramirez a straight red card, and criticized Tottenham defender Jan Vertonghen for going down too easily.
Halftime, MLS Cup Playoffs: New York Red Bulls 1-1 New England Revolution after thrilling first half
Nov 23, 2014, 2:52 PM EST
The first 45 at Red Bull Arena was wild. Take a deep breath and relive the thrilling actions, goals and all.
Nov 23, 2014, 2:00 PM EST
New England is undefeated in 11 straight matches with Jermaine Jones in the lineup.
Nov 23, 2014, 1:29 PM EST
Brendan Rodgers was quite downtrodden following Liverpool’s 3-1 defeat at Crystal Palace, the club’s third defeat in a row.
- Americans Abroad review: Boyd bags brace, Johannsson heads home (video) 2
- Premier League Preview: Aston Villa vs. Southampton 0
- Inside Look, MLS Cup Playoffs: How Revs, Galaxy built very different one-goal leads 0
- Recap: LA Galaxy grab 1-0 lead over Seattle Sounders in Western Conference Championship 1
- Despite artificial turf, New York Red Bulls’ Thierry Henry says he’ll play next week at New England 1
- Recap: New England Revolution snatch 2-1 lead, two away goals from New York Red Bulls 6