Home » Ed Woodward: Manchester United face major financial challenges ahead

Ed Woodward: Manchester United face major financial challenges ahead

by Marwan Harraz

Manchester United’s executive vice-chairman Ed Woodward has delivered a message to investors and fans in regards to the financial health of the club.

Supporters have known for a long time now that the debts at Old Trafford has steadily risen and the owners continue to cash in on their dividends.

There have been many protests in regards to this over the years, with the most recent one happening at the time of the embarrassing collapse of the European Super League.

In fact, as recently as the clash against Newcastle, fans chanted they wanted the Glazer family out of the club, with a few family members attending Cristiano Ronaldo’s second debut.

Despite all the issues at United, the message from the club is always one of fake or false positivity and supporters have had to hear it once more.

According to the club’s official website, Woodward said: “We said during the depths of the pandemic that the club would emerge in a stronger relative position, and I believe we are now seeing that borne out as we build towards recovery from a very solid foundation.

“The most important part of this recovery is the return of fans to Old Trafford and it has been fantastic to see and hear the stadium full for the first time in almost 18 months. The amazing atmosphere during the opening home games of the season demonstrates that fans are the lifeblood of the game, and we’re so glad to have them back.

“We significantly strengthened the squad over the summer, with the addition of Cristiano Ronaldo, Raphael Varane, Jadon Sancho and Tom Heaton. These signings have demonstrated our continued ability to attract some of the world’s best footballers to Old Trafford, and our firm commitment to helping Ole deliver success on the pitch.

“We have been clear in our strategy to build a squad with a blend of top-class recruits and homegrown talent, comprising a balance of youth and experience, with the aim of winning trophies and playing attacking football the Manchester United way.

“As part of this, we have continued to strengthen our recruitment and scouting processes, and we have also increased our investment in the Academy, to ensure that this success is sustainable. While squad-building is a constant process, we are more confident than ever that we are on the right track.

“It is not an accident that we have been able to invest this summer at a time when many clubs have been retrenching. This reflects the strong commercial model we have built over many years, ensuring that our spending is always underpinned by revenues that we generate ourselves.

“However, while we are confident in our relative strength, it remains clear that football as a whole faces major financial challenges caused by years of material inflation in wages and transfer fees, exacerbated by the impact of the pandemic. We are committed to working within the Premier League, the ECA and UEFA to promote greater financial sustainability at all levels of the game.”

Woodward is meant to be set to step aside by the end of the year, having announced he will resign following the ESL debacle.

There have been plenty of rumours in regards to who will replace him but it’s understood the most likely candidate will be Richard Arnold.

Fans have wanted former Manchester United man and current Ajax CEO Edwin van der Sar to return and help stabilise the club but unfortunately that doesn’t look like it will happen.

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