Man United call for patience as on-field woes darken earnings outlook | Malay Mail

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LONDON, Sept 24 — Manchester United forecast annual revenue would fall for the first time in five years after its failure to qualify for this season’s Uefa Champions League but backed manager Ole Gunnar Solskjaer to rebuild the English football club. Executive Vice Chairman Ed Woodward called...

24 September 2019

Executive Vice Chairman Ed Woodward called for patience after the 20-times English champions also forecast a drop in core profit for 2019-20 and said the club was building for long-term success. The team endured a turbulent season in 2018-19 that prompted the departure of manager Jose Mourinho before finishing they finished sixth in the domestic league under former United striker Solskjaer.

Woodward, a former investment banker who advised the American Glazer family on its takeover of United in 2005, said the club is reviewing its structure amid increasing calls for the appointment of a technical director to oversee player recruitment and contract negotiations. Spanish giant FC Barcelona last week reported €990 million in turnover for 2018-19 and expects to surpass €1 billion this year. Domestic rivals Manchester City and Liverpool are also breathing down United’s neck.

 

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