Man Utd demand third place after Van Gaal transfer spree
Next season's financial predictions are based on United finishing third in the Premier League
Louis van Gaal rolled the dice in the transfer window this summer, and now he must make sure his £150m gamble pays off after being told that Manchester United must finish in the top three this season.
The warning came from chief executive Ed Woodward as United announced their financial results for last season, which showed record revenues and a profits of almost £25m.
The figures proved United's "unquestioned fiscal firepower", says Rory Smith in The Times. "The cautionary note, though, appeared in the forecasts for next season's figures," he adds. They will be dented by Van Gaal's £150m spending spree and "will also be the first in the Glazer era not boosted by the riches on offer in the Champions League".
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
After David Moyes's disastrous reign, which saw United slip out of the top six in the Premier League, the club believes revenue next year will fall by almost £50m, with the figure dipping back below the £400m mark. However, those estimates, which have already caused dismay among some analysts, rely on the idea that Van Gaal can work at miracle at Old Trafford and propel the club back into the top three.
"Significantly," says Smith, "Woodward admitted that forecast is based on the club finishing third in the Premier League and returning to the Champions League at the first time of asking."
Not only must he turn round the club's fortunes in spectacular fashion, Van Gaal "will have to do it without any major signings in January", reports the Daily Mail.
The United manager has put all his eggs in one basket by spending so much this summer as Woodward appeared to rule out any new signings in the new year. He told investors: "We don't intend to significantly increase capital expenditure [by buying players] in January."
Meanwhile, Van Gaal's assitant Ryan Giggs has insisted that despite the summer splurge, and the sale of players including Danny Welbeck, United remain committed to home-grown talent. He pointed out that Van Gaal had nurtured players like Patrick Kluivert, Andres Iniesta and Thomas Muller at his previous clubs, reports The Guardian.
Giggs told the Soccerex conference: "We've got to make sure that young players come through because United fans demand it. I want to see them come through as well. Fans never get on the backs of the young players if they make a mistake. They always encourage them. That has always been the history of Manchester United and we never want to lose that."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
The history of Donald Trump's election conspiracy theories
The Explainer How the 2024 Republican nominee has consistently stoked baseless fears of a stolen election
By David Faris Published
-
Two ancient cities have been discovered along the Silk Road
Under the radar The discovery changed what was known about the old trade route
By Devika Rao, The Week US Published
-
'People shouldn't have to share the road with impaired drivers'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Why Man United finally lost patience with ten Hag
Talking Point After another loss United sacked ten Hag in hopes of success in the Champion's League
By The Week UK Published
-
The 'Swiss model' shaking up the Champions League
In The Spotlight Uefa says the new format offers 'greater excitement' but critics say boredom is guaranteed
By Chas Newkey-Burden, The Week UK Published
-
The Premier League's spending cap: levelling the playing field?
Talking Point Top clubs oppose plans to link spending to income of lowest-earning club, but rule could prevent success gap from widening
By Harriet Marsden, The Week UK Published
-
Is a new English football regulator an own goal for the game?
Talking Point PM hails 'historic moment for football fans' but West Ham owner warns it could 'ruin' Premier League
By The Week UK Published
-
Manchester United and Mason Greenwood: duty of care or double standards?
Talking Point The 21-year-old footballer’s possible return has provoked an outpouring of dismay from supporters
By Jamie Timson Published
-
2023-2024 Premier League predictions: champions, relegation and golden boot
feature A look at the top flight talking points and pundit picks for the new season
By Mike Starling Published
-
‘Genuine visionary’: is Pep Guardiola the greatest of all time?
feature Spaniard has now won two trebles following Man City’s Champions League triumph
By The Week Staff Published
-
Champions League final: Man City vs. Inter predictions and preview
feature Can Guardiola’s team finally win the Champions League and complete a historic treble?
By Mike Starling Last updated