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Man United has finances to strengthen squad

May 15, 2014

MANCHESTER, England (AP) — Manchester United says it has the financial power to rebuild the team following its worst Premier League season.

United went from champions to seventh place and fired manager David Moyes less than 10 months after succeeding Alex Ferguson. Louis van Gaal is expected to be the manager next season. His contract as Netherlands coach expires after the World Cup.

Vice chairman Ed Woodward says the club remains an “impressive” business operation. Revenue rose by 26 percent to $193 million in the first three months of 2014 as United reached the Champions League quarterfinals and benefited from further sponsorship deals.

Woodward says the team is in a “healthy financial position to continue to invest in the squad.”

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