Published 06:43 IST, April 25th 2020
Ed Woodward cautions Manchester United fans, says transfer spending will decrease
Manchester United vice-chairman Ed Woodward, only Friday, told fans there will be reduced spending in the transfer market due to the impact of coronavirus.
Manchester United vice-chairman Ed Woodward, only Friday, told fans there will be reduced spending in the transfer market due to the impact of coronavirus. English Premier League games have not been played for more than six weeks and stadiums are due to be closed to fans when the season resumes in June at the earliest, leading to a fall in various sources of revenue for the club.
Decrease in transfer spending
“Nobody should be under any illusions about the scale of the challenge facing everyone in football and it may not be ‘business as usual’ for any clubs, including ourselves, in the transfer market this summer. As ever, our priority is the success of the team, but we need visibility of the impact across the whole industry, including timings of the transfer window, and the wider financial picture, before we can talk about a return to normality.”
“I cannot help feeling that speculation around transfers of individual players for hundreds of millions of pounds this summer seems to ignore the realities that face the sport,” Woodward said.
The Red Devils have not announced any sort of pay cuts or job cuts till now and there has been no intimation of the same yet by the club.
“Of course, everyone is grappling with the economic realities of the pandemic and we are no different. So the longer the crisis continues the greater the impact will be for every club, including ourselves," Woodward said.
He added, “We have always believed that our commercial model gives us greater resilience than most clubs, and we are grateful for the enduring support of our commercial partners in helping us achieve that.”
The last match of the Premier League took place on March 10 and around 10 matches of the season are still remaining. Liverpool leads the championship with a lead of 25 points. United are fifth in the Premier League with nine games remaining.
Updated 06:43 IST, April 25th 2020