Thursday, December 3, 2020
Home Business & Finance Ole Gunnar Solskjaer: Man Utd back boss as quarterly financial results published...

Ole Gunnar Solskjaer: Man Utd back boss as quarterly financial results published early in error

Ole Gunnar Solskjaer guided Manchester United to victory in their most recent Premier League game at Everton

Manchester United remain “absolutely committed” to manager Ole Gunnar Solskjaer, says executive vice-chairman Ed Woodward.

Woodward’s comments were contained in the club’s first-quarter results, released early in error on Thursday.

Solskjaer came under intense pressure following successive defeats by Arsenal and Istanbul Baseksehir.

But Woodward said the club “remain absolutely committed to the positive path we are on under Ole”.

United are 14th in the Premier League, having won three and lost three of their opening seven matches.

The electronic publisher that releases United’s regulatory statements was doing a test on Thursday and incorrectly went live with the figures. They were not scheduled to be published until Friday lunchtime GMT.

United had already said they would not be holding an investors’ conference call with the results, published three weeks after their 2019-20 final results were issued.

Overall revenue was £109m, down 19.5% compared with the same quarter last year.

Matchday revenue fell significantly as matches continued to be played behind closed doors, but United still generated £1.7m, through a combination of membership sales and rental income from property owned around Old Trafford.

Broadcast revenue was up as a result of Premier League games being played in July, while commercial revenue has dropped 25.7% to £59.7m.

The company will pay a $0.09 (6.86p) dividend on shares on 7 January, 2021.

Woodward added: “While the Covid-19 pandemic continues to cause significant disruption, we are optimistic that the recovery and normalisation phase is gradually coming into view.

“The club’s resilience and our strong commercial business continue to provide a solid foundation and gives us confidence in our long-term outlook beyond the pandemic, both on and off the pitch.”

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