The club’s executive vice-chairman made the statement as Man United’s latest financial figures were released showing debt has increased by 14%.
Ed Woodward has reiterated his support for Ole Gunnar Solskjaer adding that the progress Manchester United have made this season gives optimism for the future.
United topped the table in January but after a string of disappointing results, where they have won just three out of 10 in the league, they sit second,14 points behind league-leaders Manchester City.
Solskjaer has regularly spoken about the progress he has seen in his side since taking the reigns in December 2018 and he continues to have the backing of the board as Woodward spoke about the manager in a statement released alongside the latest set of financial results.
What was said?
United’s executive vice-chairman Woodward said: “While the disruption to our operations remains significant, we are pleased by the tremendous resilience the club has demonstrated through the pandemic, underpinned by the dedication of our people and the strength of our commercial business.
“We have been reminded of the importance of football as a source of community, entertainment and pride to fans around the world, even as we have sorely missed them at Old Trafford. The progress made by Ole and the players this season is clear and our thriving academy and women’s team are also adding to the optimism we feel about the future on and off the pitch.”
Has there ever been any doubt over Solskjaer’s position?
With United having a poor start to the season there was plenty of speculation that Solskjaer’s days at the club may have been numbered. But, it is understood that while the board wanted an improvement in results, the Norwegian continued to have their backing and his position was never under threat.
What were the figures released in the report?
The figures, which were for the second quarter up to 31 December 2020, showed that the debt is up 16 per cent to £455.5m while revenue is down seven per cent year-on-year to £281.8m and profit is down seven per cent £33.6m. While the principal debt remains the same the net debt has increased primarily due to a loss of matchday revenue and deferred sponsorship payments.
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