Failed David Moyes tenure set to cost Manchester United £50million

Manchester United chief executive Ed Woodward is set to reveal the cost of David Moyes’ failed Old Trafford tenure last season, which is expected to be £50million, Telegraph reports.

The Red Devils had their worst ever finish in the history of the Premier League, ending up seventh despite being champions in the previous campaign.

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And Woodward will hold a press conference on Wednesday to discuss the implications last year had on the club’s finances after account publications were released.

However although United will have gained revenue in between £420 – £430million, their low finish cost them a UEFA Champions League spot and lost the club £35million prior to this season.

The seventh place finish also cost £8.4million in Premier League prize money, while the employment of Moyes cost the club a total of £10.5million – £3.5million in compensation to Everton and £7million in wages.

However despite the club’s failures on the field, the United hierarchy insists the club are financially safe even after their massive spending over the course of the summer, due to their deal with Adidas as well as their £53million-a-year shirt agreement with Chevrolet.

Man United spent over £150million in new players over the transfer window, even breaking the British record by signing Real Madrid winger Angel di Maria.

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