Whoa, that’s a lot of dough.
With the record television deals in place for the Premier League, there’s no wonder top clubs are doing so well financially.
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Manchester United is right at the front of that, with the club posting a record revenue figure for the 2016/17 year.
The Old Trafford side has announced that it generated over $787 million during last season, after signing the likes of Zlatan Ibrahimovic, Paul Pogba and Henrikh Mkhitaryan.
The Red Devils also won three trophies — UEFA Europa League, League Cup and Community Shield — which certainly helped boost the club’s morale as well.
“We concluded a successful 2016-17 season with a total of three trophies [including the Community Shield] and a return to Champions League football,” said United executive vice-chairman Ed Woodward.
“The year saw us set record revenues of over £581m and achieve a record EBITDA [Earnings before interest, tax, depreciation and amortization] of £199.8m. We are pleased with the investment in our squad and look forward to an exciting season.”
Overall, United has reportedly netted a profit of roughly $53 million, before taxes, and the club’s net debt has been reduced to around $288 million.
Woodward has estimated that United will generate in the range of $770 to $790 million for the 2017-18 fiscal year.
Alvaro Morata’s agent says the Spanish forward is very interested in what Manchester United has to offer, but that the player’s current employer is the obstacle.
Morata finds Manchester United an intriguing place to play, and agent Juanma Lopez says the Red Devils have made a “very important proposal” to the player and Real Madrid.
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Whether Real accepts is another question, as Lopez says La Liga’s champions turned down a bid from AC Milan earlier this summer.
Previous reports said Morata had personal terms worked out with United, and that the transfer fee remains an obstacle. And Jose Mourinho has said he gave chairman Ed Woodward his shopping list and left the hierarchy to sort it out.
Suffice it to say, this should be sorted out and sooner rather than later.
Marcus Rashford and Manchester United have put pen to paper on a new four-year deal for the breakout striker.
Fresh off scoring his first goal for England, the 18-year-old Rashford is locked into the Old Trafford club through 2020.
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Rashford scored 8 goals in 18 appearances since joining the First Team under now-fired manager Louis Van Gaal.
Executive vice chairman Ed Woodward urged patience with the youngster on ManUtd.com:
“Marcus is a naturally talented footballer with great potential. He has taken his chances well and has integrated into the first team very quickly. I am delighted that Marcus has signed a new contract, he is at the right club to continue his development. He is still very young and we need to be patient but he is developing in the right way and we believe he has a great future ahead of him.”
With Rashford and Martial, United has tremendous potential in attack at very young ages. Let’s see if the youngster continues to deliver on this early promise.
Speculation that Louis Van Gaal could be moved into a director of football role to accommodate the hiring of Jose Mourinho as manager are false, according to a report from Sky Sports.
Van Gaal is set to oversee Manchester United’s bid for a first FA Cup Final win since 2004 on Saturday, and drew the ire of fans yet again this week when he said expectations were too high during the club’s reloading period post-Alex Ferguson.
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With a year left on his contract, reports emerged this week that Van Gaal could step into an administration role. That would allow Mourinho to step into the high-profile hot seat at Old Trafford, but Sky says United is not looking to appoint a director of football.
And it’s difficult to imagine the chaos that would ensue with Ferguson milling around Old Trafford along with Ed Woodward and LVG, all “above” Mourinho. Come on, would The Special One really accept that sort of oversight on his players’ comings and goings?
As for another role in the organization, could this be a tongue-in-cheek denial, something like saying, “We’re not going to use this player as a forward” but using him in a different attacking role? Perhaps.
A manager’s fate is almost always in the hands of his players, but it may have been in their words at Old Trafford.
With Louis Van Gaal out of town, Manchester United chief executive Ed Woodward reportedly held discussions with his senior players on Monday, delving into their relationships with the embattled manager.
United saw its four-match unbeaten run snapped at the hands of Southampton on Saturday, marking the second loss in its last four matches at Old Trafford.
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Van Gaal’s been widely criticized for his defense-first approach to managing the Premier League’s fifth-place side, and Woodward wants to know how the players are feeling.
The club did not train on Monday. Is it possible they may not practice under Van Gaal’s direction again?