Connect with us

Hi, what are you looking for?

English Premiership

Single digit millions pay-off for Moyes

MOYES-FREDLONDON, May 15- David Moyes will receive a pay-off of “single-digit millions” following his sacking by Manchester United, executive vice-chairman Ed Woodward revealed on Thursday.

Speaking during a conference call to discuss United’s latest financial results, Woodward also told investors that an announcement about Moyes’s successor would be made “in due course”.

United are reportedly close to hiring current Netherlands coach Louis van Gaal as their manager, with British media reports claiming the 62-year-old Dutchman’s appointment could be confirmed next week.

Former Everton head coach Moyes was sacked in April only 10 months after signing a six-year contract as the successor to long-serving former United manager Alex Ferguson.

Under interim manager Ryan Giggs, United went on to finish the Premier League season in seventh place, meaning that they will not play in European competition next season.

Woodward said that not playing in next season’s Champions League will cost the club “in the mid-£30 million ($50.3 million, 36.8 million euros)” and described United’s seventh-place finish as “very disappointing”.

He also vowed that United would look to make significant investment during the close-season transfer window in a bid to return to the upper echelons of the English game in 2014-15.

“The club’s expectations — and you will see this reflected in the transfer market and what we have recently done from a managerial perspective — are absolutely to get back into the Champions League,” he said.

“We will be active in the transfer market and deals will be done.”

Advertisement. Scroll to continue reading.

Woodward added that the precise amount of Moyes’s pay-off would be revealed in September.

Despite their on-pitch struggles, United enjoyed a record 26 percent rise in revenue to £115.5 million for the third quarter of the financial year.

The increased revenue was mainly due to rises in income from Premier League broadcasting money and sponsorship deals.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

More on Capital Sports

Football

NAIROBI, Kenya, May 25 – There is light at the end of the tunnel. After failed promises over the last three years since its...

Athletics

NAIROBI, Kenya, June 8 – Olympic Champion Caster Semenya and wife Violet Raseboya have hinted that they might be expecting a baby in a...

Athletics

NAIROBI, Kenya, Oct 15 – Daniel Wanjiru, the 2017 London Marathon champion has been slapped with a four-year ban by the World Athletics Disciplinary...

NFL

NAIROBI, Kenya, Aug 13 – Kenya’s history making Daniel Adongo, the first Kenyan to play in America’s National Football League (NFL), is now living...

© 2020 Capital Digital Media. Capital Group Limited. All Rights Reserved