Ed Woodward was not questioned once on Louis van Gaal‘s future and the current managerial situation by any investor in what felt like a painfully scripted phone call.
Speaking to investors while giving Man United’s financial performance report for 2015/16 third quarter, Woodward drew on the positives of player development and the team’s financial figures as United’s financial results for the period up until March 31 show a revenue increase of nearly 30% to £123.4m.
Commercial income was £65.8m and showed an increase of £18.0 million, or 37.7%, over the prior year quarter, while sponsorship revenue was up 3.5% by £38.8 million over the prior year quarter.
Broadcasting revenue was £27.8 million, an increase of £6.1 million, or 28.1%, over the prior year quarter and match day revenue for the third quarter was £29.8 million, an increase of 16.9% or £4.3 million.
Speaking about the numbers, Woodward says the club are looking forward to hopefully winning the FA Cup against Crystal Palace on May 21 at Wembley.
“As we reflect on our season, we are delighted by the emergence of yet another crop of exciting young players that demonstrate once again our terrific track record of youth development,” he said.
“We are looking forward to the FA Cup final on May 21 and hopefully winning this special trophy for a record equaling 12 times.”
I know if I was an investor in United, I would want to know what is going with the manager as it would be the biggest variable affecting my investment other than qualifying for the Champions League.
Woodward was even congratulated by an investor from JP Morgan on the ‘record performances’ of United in the financial quarter. For those who don’t know, Woodward previously worked at JP Morgan.
It doesn’t come as too much of a surprise to see that Woodward and the United board members faced no questions on van Gaal but it just highlights how the priorities and measures of success differ drastically between fans and the board.