The Red Devils reveal just how costly Moyes’ 11 month spell was.
Manchester United are set to reveal that former manager David Moyes’ ill-fated 11 month spell at the club cost them a whopping £50m, reports the Telegraph.
Executive vice-chairman Ed Woodward will meet with United’s investors on Wednesday to discuss the finances of the past year and the extent of what the team’s failure in recent times has cost them.
Although the Red Devils are expected to announce healthy annual revenues of between £420m and £430m, their inability to qualify for the Champions League for example is estimated to have cost them £35m alone.
Added to that is the fact that after finishing seventh in the Premier League in 2013/14 – a drop of six places from 12 months earlier – they also lost out on £8.4m.
Finally, with Moyes being sacked less than one year into a six-year contract the 51-year-old was paid £3.5m in compensation, whilst the departure of his senior staff also set the club back a hefty fee.
However, having just entered the first season of a £53m-a-year deal with Chevrolet it’s not thought they will be affected too much and senior figures at Old Trafford thinks this can help them go one term without Champions League football and not lose any money.
Woodward has publicly announced this summer that the club can compete with the finances of anyone other side in the world and over £150m was duly spent on new players, including British record £59.7m for Angel di Maria.
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