Manchester United’s executive vice-chairman Ed Woodward has backed Ole Gunnar Solskjaer to deliver at Old Trafford.
Ed Woodward is backing Ole Gunnar Solskjaer to deliver at Manchester United. Woodward believes that the Norwegian manager will be able to bring success back to Old Trafford.
7 a.m. ET
Dawson, Rob Correspondent
Manchester United chairman Ed Woodward has said that the club is dedicated to assisting Ole Gunnar Solskjaer in achieving success at Old Trafford.
After a 2-1 loss to Swiss champions Young Boys on Tuesday night, Solskjaer has been chastised by some fans.
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In his two-and-a-half years in charge, he has yet to win a title, but Woodward believes the club’s summer splurge on Cristiano Ronaldo, Raphael Varane, and Jadon Sancho shows they still think he is the right man for the position.
“We substantially improved the team during the summer with the additions of Cristiano Ronaldo, Raphael Varane, Jadon Sancho, and Tom Heaton,” Woodward said on Friday in remarks prepared for a conference call with investors.
“These additions show our continuing ability to bring some of the greatest players in the world to Old Trafford, as well as our strong commitment to assisting Ole in achieving success on the field.” In addition, we just sold Dan James to Leeds for £25 million plus add-ons.
“We were pleased to welcome Cristiano back to the club, as well as Raphael, Jadon, and Tom, to add to the development that our first team has made under Ole.”
“Our approach has always been to create a team with a mix of top-class imports and homegrown talent, with a balance of youth and experience, with the goal of winning trophies and playing aggressive football the Manchester United way.”
Manchester United coach Ole Gunnar Solskjaer is in his third full season in charge. Manchester United/Ash Donelon/Getty Images
United’s yearly financial figures revealed a net deficit of £92.2 million. The club’s salary cost has increased by 13.6 percent to £322.6 million, owing mainly to Champions League qualifying, but the net debt has decreased from £474.1 million to £419.5 million. The year’s total revenue was £494.1 million.
United spent more than £130 million for Ronaldo, Varane, and Sancho, making them the Premier League’s second most expensive summer signings after Arsenal.
The investment comes at a time when many of Europe’s top clubs are still dealing with the financial consequences of the coronavirus pandemic, and Woodward insists it was only possible because of United’s ownership model, which is led by the unpopular Glazer Family, and their self-sustaining revenue streams.
“Our confidence in our strong operational business model to allow ongoing investment in our football teams and facilities goes hand-in-hand with our excitement about on-field possibilities,” Woodward added.
“It’s no coincidence that we were able to invest this summer at a time when many teams were cutting down.”
“This underscores the solid commercial strategy we’ve developed over time, ensuring that our expenditure is always backed up by income we produce ourselves.”
Despite Woodward’s overall optimism, United’s fourth-quarter financial figures were accompanied with a cautionary note.
Barcelona has had to make major financial cuts, including releasing Lionel Messi to join PSG, and Woodward thinks that the spending on transfer fees and salaries in football cannot be maintained.
“While we are confident in our relative strength, it is obvious that football as a whole is facing significant financial difficulties as a result of years of substantial inflation in salaries and transfer fees, which has been compounded by the pandemic’s effect,” he added.
“We are dedicated to promoting better financial sustainability at all levels of the game by working with the Premier League, the ECA, and UEFA.”
Manchester United’s executive vice-chairman Ed Woodward has backed Ole Gunnar Solskjaer to deliver at the club. Reference: mufc.
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