By Tom Finn
November 19, 2014
Ed Woodward, Manchester United’s executive vice chairman has spoken of the clubs current financial state and told the Daily Star that they are much more interested in next summer’s transfer market rather than this January.
Manchester United manager Louis van Gaal since taking over from David Moyes has spent big in the transfer market in the hope of United getting back into the Champions League , and the club have assured him that the money will be there when he goes after the £47 million rated Arsenal target Mats Hummels during next summer’s transfer window.
During a conference call to Manchester United investors Woodward said: “Nothing has changed since what I communicated at the last conference call.
“We are not looking to enter the market for short-term fixes.
“However we have targets that we are looking at for next summer. Should any of them become available in January – which obviously is rare – we will consider acting. But in terms of expectations-setting we all need to recognise that is a low probability.”
United’s financial results reflected how much missing out on the Champions League actually costs a club, and with the Red Devils playing two fewer matches than in the equivalent period last season income was down 13% with no TV cash coming in from UEFA seeing the clubs current debt climb to £362.2 million despite commercial revenue going up thanks to new sponsorship deals.
Where United have saved money however is in their wage bill after having said good bye to high earners Rio Ferdinand, Patrice Evra, Ryan Giggs, Danny Welbeck, Bebe, Javier Hernandez, Tom Cleverley and Shinji Kagawa.