
Manchester United's owners on Thursday warned investors the club may struggle to keep their best players if they miss out on Champions League qualification for a second consecutive season.
"Because of the prestige associated with participating in the European competitions, particularly the Champions League, failure to qualify for any European competition, particularly for consecutive seasons, would negatively affect our ability to attract and retain talented players and coaching staff, as well as supporters, sponsors and other commercial partners," owners the Glazer family said in the club's prospectus.
United also revealed that income from their new 10-year kit deal with Adidas will fall by 30 percent to £52.5 million ($88.6 million, 66.2 million euros) per year if they miss out on the Champions League for two seasons in a row.
Former manager David Moyes was sacked by United in April for failing to secure a Champions League place last season and his successor Louis van Gaal will be expected to steer the club back into the lucrative competition.
The Glazer family have also announced plans to sell five percent of their 90 percent stake in the club -- eight million shares -- for around $150 million.
The proceeds will go to the Glazer's investment vehicle, Red Football LLC, rather than the club itself.
After rising steeply following the announcement of the Adidas deal earlier this month, United's shares closed at $19.31 in New York on Wednesday.
Source: AFP
GMT 13:38 2018 Wednesday ,12 December
WADA views International Sambo Federation as one of best in fight against doping abuseGMT 10:48 2018 Tuesday ,23 October
Dortmund face Atletico test of maturityGMT 19:21 2018 Tuesday ,23 January
Brewers make offer to Japanese pitcher DarvishGMT 19:19 2018 Tuesday ,23 January
Brewers make offer to Japanese pitcher DarvishGMT 12:35 2018 Friday ,19 January
Man Utd set to make Sanchez highest-paid Premier League playerGMT 12:17 2018 Thursday ,04 January
Italy's Barella extends Cagliari dealGMT 13:20 2017 Sunday ,24 December
'Tongan Bear' Uhila extends Clermont contractGMT 19:09 2017 Tuesday ,19 December
Mascherano close to China move: reportsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor