[Manchester United’s Financial Report] said: “Qualification for the Champions League is largely dependent upon our men’s first team’s performance in the Premier League and, in some circumstances, the Champions League or Europa League in the previous season. Qualification for the Champions League cannot, therefore, be guaranteed. Failure to qualify for the Champions League would result in a material reduction in revenue for each season in which our men’s first team did not participate. To help mitigate this impact, the majority of playing contracts for our first team include step-ups in remuneration which are contingent on participation in the group stage of the Champions League.”
These statements aimed at investors highlight the risks of backing a football club, where on-field success is never assured. However, for Manchester United, the probability of success appears increasingly slim.
