WE’RE BIG LEADERS ... AND BIG LOSERS
Woodward breaks silence on shake-up as United reveal £70M Covid loss
ED WOODWARD has broken his silence on Project Big Picture and Manchester United’s leading role in the planned radical shake- up of English football.
United and Liverpool were the main drivers of the controversial proposal, which was ultimately rejected by Premier League clubs at a meeting last week.
Despite that, Woodward said United would continue to lead the way over a restructuring of the game and its finances.
He was speaking as financial figures for the year showed the club had taken a huge hit because of the impact of the coronavirus pandemic.
“You may have read about the discussions taking place within English football about plans to address the nearterm financial predicament created by the pandemic for clubs in the lower leagues,” said the Old Trafford executive vice-chairman (right).
“We’ve been playing an active role in those discussions because we strongly believe in supporting the English football pyramid, both in the short term, to address the issues created by Covid-19, and in the long term to improve financial sustainability at all levels of the game.
“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.
“Now, at this critical juncture for the game, we must ensure the huge success of the Premier League is reinforced, while ensuring the wider football pyramid pyrato continues to thrive in a rapidly y changing media environment.
“Achieving this will requi re strategic vision n and leadership. We are pleased the Premier emier 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 outcom outcome.”
U United’s 2019- 20 fi financial statement, m which took i in the period w when football w was forced to shut do down, revealed a £70 £70million loss as a result o of the coronavirus pandemic.
Overall revenue was down 18.8 per cent from £627.1m to £509m, partly a result of not qualifying for last season’s Champions League. Debt more than doubled to £474.1m, while the annual net loss was £23.2m.
The club estimated revenues could reach £580m. Matchday revenue was down £21m, with Woodward calling for fans to be allowed back into stadiums sooner rather than later.
“Crowds have been permitted to return to varying degrees in over 20 European countries, albeit with significant capacity restrictions to allow for social distancing,” he said.
“We urge the UK Government to follow these positive examples as soon as it is safe to do so.
“If people are allowed to sit in a plane for hours, or in the cinema, or even watch football in a cinema why not outside in a stadium environment which is professionally managed and controlled?
“If indoor concerts are allowed, why should outdoor, socially-distanced football fans be treated differently?”