Football: Manchester United will spend to rebuild struggling team, says Woodward
LONDON (Reuters) - English football champions Manchester United will ramp up spending on new players to improve their ailing squad and boost the team's chances of winning the trophies that have been key to their financial success.
United, slumped in seventh place in the Premier League in a tough debut campaign for new manager David Moyes, on Wednesday posted an 11.6 per cent rise in second-quarter revenue, showing their on-pitch difficulties had not yet effected business.
The club said they would invest to ensure they could compete for top honours and the TV and sponsorship windfalls that come with them. United signed Chelsea midfielder Juan Mata for a club record fee of 37.1 million pounds (S$78.2 million) in January but still need reinforcements in defence and a commanding midfielder.
"We aren't afraid of moving in the market in a way that perhaps we haven't seen in recent years. Historically we've had roughly three sales and three purchases each year and it's possible that we will do more than that," Ed Woodward, executive vice-chairman said, adding everyone from Moyes down had acknowledged their poor league position.