David Moyes: Manchester United's £50m mistake

Posted Tuesday, September 09, 2014 by Dailystar.co.uk

DAVID MOYES' woeful spell as Manchester United boss is expected to have cost the club £50m.

David Moyes: Manchester United's £50m mistake
MISTAKE: Moyes could end up costing United £50m

The Old Trafford outfit - who have just splashed more than £150m in the transfer window - will today reveal the full cost of Moyes's disastrous 11-month reign as manager, with annual accounts making grim reading.

Chief executive Ed Woodward will hold a conference call with the club's investors at lunchtime to discuss the financial picture at Old Trafford following the publication of accounts for the year ending June 30, 2014.

United are expected to show revenue of between £420m and £430m, but Moyes' failure to secure Champions League qualification will cost the club at least £35m in prize money.

United's shocking slump from Premier League champions in 2013 to seventh place last season also saw the club lose almost £8.5m in prize money.

Moyes was paid a year's salary of £3.5m in compensation after being sacked ,which means he also cost United £7m in wages for less than one season at the helm.

To make matters worse there were also lucrative pay-offs for Moyes' coaches Steve Round, Chris Woods, Phil Neville and Jimmy Lumsden.

But senior sources at United insist the club can withstand such an expensive mistake and will also be able to cope without a season of Champions League football.

United secured a record shirt-sponsorship deal with Chevrolet worth £53m-a-year to help fund a massive summer spending spree by Moyes' successor Louis Van Gaal.

They have splashed out on Marcos Rojo, Luke Shaw, Radamel Falcao, Ander Herrera, Daley Blind and Angel Di Maria in a British record £60m deal.

Shaw is winning his fitness battle to make his long-awaited league debut against QPR at Old Trafford on Sunday.

The £30m arrival from Southampton damaged his hamstring in training but Starsport understands he is available for the visit of Harry Redknapp's side - if Van Gaal picks him.