Manchester United executive vice-chairman Ed Woodward is set to hold a call-meeting with the club’s investors today as United release financial figures covering David Moyes’ spell in charge of the club.
While United remain in a strong financial position, reports are suggesting that Moyes’ brief time at the club could have cost £50 million to be lost at Old Trafford, which will leave Woodward with some explaining to do.
“The Old Trafford outfit - who have just splashed more than £150m in the transfer window - will today reveal the full cost of Moyes's disastrous 11-month reign as manager, with annual accounts making grim reading,” reports the Daily Star.
“Chief executive Ed Woodward will hold a conference call with the club's investors at lunchtime to discuss the financial picture at Old Trafford.”
Woodward should be in a good position to defend himself and the club because the summer transfer window, which has just closed, demonstrates the financial resources currently available to United.
Angel Di Maria arrived in a deal from Real Madrid worth £60 million while several sources have suggested United could be paying around £20 million for the luxury of having Falcao on loan at the club for a single season.
Add to that the big money deals for Ander Herrera, Luke Shaw and Daley Blind and it’s been an extremely expensive summer for the club.
All of the hard work which has been put into creating United’s commercial brand all over the world seems to be paying off because few clubs would struggle to cope financially with the current outlay, especially without the revenue created by Champions League football.
Investors want returns on their money so any significant loss is going to set alarm bells ringing but if United’s heavy investment in players this summer pays-off, the club will be in a better position moving forward.