MANCHESTER – English soccer club Manchester United forecast annual revenue would fall for the first time in five years after its failure to qualify for this season's UEFA Champions League.
The 20-time English champions endured a "turbulent season" in 2018-19 that saw the departure of manager Jose Mourinho, and could only manage a sixth place finish in the domestic league under former striker Ole Gunnar Solskjaer.
The club, which will play in the less lucrative Europa League this season, has made a stuttering start to the new Premier League campaign and sits eighth.
Executive Vice Chairman Ed Woodward has come under fire as United have seen a string of high-profile managers and expensive players underperform since the departure of Alex Ferguson at the end of the 2012-13 season, when they last won the league title.
"We remain focused on our plan of rebuilding the team and continuing to strengthen our youth system, in line with the philosophy of the club and the manager," Woodward said.