Manchester United executive vice chairman and business tycoon Ed Woodward has given a report on the club in his annual financial results.

Here he talked about the pandemic and how the club fared over the past 18months.

Earlier this week saw some pressure on manager Ole Gunnar Solskjaer when his side lost to Swiss side Young boys 2-1 and further raised doubts from supporters as to if he is still the right man to lead the club to glory.

Now Woodward has addressed the whole of the situations concerning the club.

He was quoted as saying:

“We significantly strengthened the squad over the summer, with the addition of Cristiano Ronaldo, Raphael Varane, Jadon Sancho and Tom Heaton,” said Woodward.

“These signings have demonstrated our continued ability to attract some of the world’s best footballers to Old Trafford, and our firm commitment to helping Ole deliver success on the pitch.

“While squad-building is a constant process, we are more confident than ever that we are on the right track.

“This was made possible by the strength of our operating model, with sustained investment in the team underpinned by robust commercial revenues.

“We have been clear in our strategy to build a squad with a blend of top-class recruits and homegrown talent, comprising a balance of youth and experience, with the aim of winning trophies and playing attacking football the Manchester United way.

“Everyone associated with Manchester United can be proud of the resilience we have shown through the challenges created by the pandemic and we look forward to the rest of the season and beyond with great optimism.

“As we review our financial results for the 2021 fiscal year, there is little doubt that those 12 months were among the most challenging in the history of Manchester United.

“While the financial impact from the pandemic is visible, our continued underlying strength is also clear to see and everyone associated with the club can be proud of the resilience we have shown through these most testing of times.

“The most important part of this recovery is the return of fans to Old Trafford and it has been fantastic to see and hear the stadium full for the first time in almost 18 months.

“On the pitch, the team has made a strong start in the league, and everyone at the club is feeling excited about the rest of the campaign.”

Woodward also said United’s strong commercial position had enabled them to withstand the financial pressures brought on by the pandemic, while many other clubs have struggled against that backdrop.

“It is not an accident that we have been able to invest this summer at a time when many clubs have been retrenching,” said Woodward.

“This reflects the strong commercial model we have built over many years, ensuring that our spending is always underpinned by revenues that we generate ourselves.

“However, while we are confident in our relative strength, it remains clear that football as a whole faces major financial challenges caused by years of material inflation in wages and transfer fees, exacerbated by the impact of the pandemic.

“We are committed to working within the Premier League, the ECA and UEFA to promote greater financial sustainability at all levels of the game.”

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