Executive vice-chairman Ed Woodward has reiterated the club’s support for manager Ole Gunnar Solskjaer who will continue his squad rebuilding project in the summer despite a decrease in revenues and an increase in net debt.
The club’s revenue fell by nearly 12% in the second part of 2019, largely down to the club’s absence from the Champions League. But our net debt rose by 23.2 per cent to £391.3m.
“We are pushing for a strong finish in the Premier League, the Europa League and the FA Cup as we enter the final third of the season,” Woodward said, ahead of Tuesday’s conference call with investors.
“We have continued to make progress on our squad rebuild, with many changes in terms of players that we have brought in and players that have come through our academy; the foundation for delivering the long-term success that we are all working towards is in place as we implement our plan and our footballing vision with Ole.”
The club’s revenue fell by nearly 12% in the second part of 2019, largely down to the club’s absence from the Champions League.
For 2020, the board expects the club’s total revenue to be of around £560-80m.
We remain in the race for the Premier League top-four finish as the club is only three points behind 4th-placed Chelsea.