Pranav Nair
Ed Woodward makes Manchester United transfer promise in statement
Executive vice-chairman Ed Woodward has promised that United will continue to rebuild the squad in the summer, while also pushing for a successful end to the season, according to Manchester Evening News.
He is due to host a conference call on Tuesday after the release of the club’s second-quarter results. In a statement made ahead of the call, Woodward reiterated the commitment to continue rebuilding the squad.
Woodward also revealed that the plan to deliver long-term success is already in place and the club are working towards implementing Ole Gunnar Solksjer’s footballing philosophy.
United’s financial results show a 7% increase in commercial revenue while the matchday revenues fell by 15.1%. The reason for this was the fewer number of home matches in domestic and European competitions.
In spite of this, the club believes that the matchday revenues are still solid. The club’s debt soared by £73.6million over the year, taking the net debt to £391.3million as of December 31, 2019.
The Lack of Champions League football has led to a decrease in television revenue, however, United believe the robust commercial and matchday revenues have offset the club’s Europa League status.
The report also goes on to say that United sources believe the addition of Bruno Fernandes reiterates their commitment towards investing on both on-field and off-field success.
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The club also highlighted the signing of Bruno Fernandes, the new partnership with Mondelez International and the commercial strategic partnership with Alibaba.
