Diego Maradona dies: Three days of mourning begin in Argentina as tributes pour in Three days of mourning begin in Argentina as tributes pour in for Diego Maradona, one of the greatest footballers of all time, who died on Wednesday.
Manchester United announce £70 million losses as Ed Woodward wants whole football pyramid to ‘thrive’ as the environment changes
News broke on Tuesday that Manchester United and Liverpool have been involved in talks around a European Premier League. The league is reported to have the backing of US investors amounting to around $6 billion.
United’s executive Vice Chairman Ed Woodward did not dismiss the idea of a football restructure. He was instead supportive of any restructuring only benefitting the footballing pyramid as a whole.
“There will always be intense debate around any changes to the structure of football, just as there was before the formation of the Premier League 28 years ago,” said Woodward.
“Now, at this critical juncture for the game, we must ensure that the huge success of the Premier League is reinforced while ensuring that the wider football pyramid continues to thrive in a rapidly-changing media environment.”
“Achieving this will require strategic vision and leadership. We are pleased that the Premier League has committed to work together on a plan for the future structures and financing of English football.”
“Now it must deliver on that promise, and we are committed to playing a leading role in pushing that process towards a successful outcome.”
Woodward’s comments came in line with the news Manchester United have recorded losses in the region of £70 million. The impact of the coronavirus pandemic has played a key role in such a high figure.
Without the income from gate receipts, clubs across the country have suffered massively. Worryingly, the figures only account up until the end of the financial year which concluded in June 2020. Meaning much further impact of the pandemic will be affecting the current year of accounts.
With the unlikely possibility that fans will be returning to stadiums soon, losses are expected to continue.
With that in mind, perhaps the reasoning for United’s failure to secure the services of Jadon Sancho in the summer are more clear. Borussia Dortmund were reportedly unwilling to negotiate the £100 million valuation of the England international.
United had offers rejected but instead competed the signings of Alex Telles and Edinson Cavani on Deadline Day.
Guardian sport (@guardian_sport) October 5, 2020