Manchester United chief Ed Woodward has revealed that the club are now facing debts of up to £429million due to COVID-19, hinting that transfer activity will be hugely limited this summer. The Red Devils are usually the financial powerhouses of the Premier League but have now given the rest of the division a taste of the harsh reality ahead.
Clubs are not expected to receive any match-day revenue until 2021, putting a huge dent in their finances while they attempt to navigate the crisis.
United are believed to have shelled out £23million during the last financial quarter.
That amounted to losses of £7.3m, while revenue also dropped 19 percent year-on-year.
The club were predicting revenues of up to £580m, but that figure is now a pipe dream.
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Woodward has also claimed United are engulfed in “one of the most extraordinary and testing periods in the club’s 142-year history.”
For United fans in particular, it suggests they should not expect a big summer in the transfer market.
If a club the size of United is struggling to function during the current financial climate, the same can be said about their fellow Premier League rivals including Liverpool.
While the Reds have not yet documented their current financial status, chief executive Peter Moore recently told fans in an open letter: “Our revenues have been shut off yet our outgoings remain.”
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All transfer business has currently been placed on hold and a final decision has not yet been made on whether the club will move for Timo Werner.
The German was their top target before football was called to a halt, now Liverpool are having to take their time to weigh up whether the deal is affordable.
But they will take some comfort in the fact it’s almost certain United will not snatch Werner.
Although it’s crystal clear that Werner wants Liverpool over United, the 24-year-old has made it clear he wants to test himself in another league.
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Should Liverpool not be able to offer him that this summer, other clubs will still come calling.
United have already made contact with his agent about a potential transfer, as have Chelsea.
In previous years, Werner’s preference was actually to move to Old Trafford over Anfield.
Speaking in 2018, he said: “Yes, playing in the Premier League is a dream for me.
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”I would like to play for two or three clubs, and Manchester United are one of those clubs.
“But probably not in the next few years – later, when my English is a little bit better! I’m very comfortable at RB Leipzig, though.
“Manchester United and Liverpool were the teams I watched quite a lot in England. They were the two that I’m a little bit a fan of, because they have so much history. When Alex Ferguson was the coach, United won everything and were outstanding.
“In Liverpool it’s also their stadium and the atmosphere. But when I have to decide, I’m more Manchester United than Liverpool.”
Despite the uncertainty, Jurgen Klopp will not be losing any sleep at the thought of Werner joining United following Woodward’s comments.
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