Manchester United have suffered a bigger financial hit due to the coronavirus or COVID-19 pandemic than their rivals and it is not clear what the funds will be available for signing players in the next transfer window, Ole Gunnar Solskjaer has mentioned.
United withdrew their annual financial targets in the month of May after suffering a loss of around 23 billion pounds in the quarterly revenue because of the season getting temporarily suspended due to the coronavirus crisis.
The Premier League restarted this month but fans have been barred from attending games, and Solskjaer said United, who also have 429 million pounds in debt, would adopt a cautious approach to spending. "We'll have to take a big look at things ourselves to see how hard we've been hit," Solskjaer told reporters ahead of Saturday's FA Cup quarter-final match at Norwich City.
Manchester United Suffer Financial Loss
"It's not for me to say we are going to have X amount because I don't really know. We are a financially strong club, but we are also probably being hit more than anybody else." United are fifth in the Premier League, five points behind fourth-placed Chelsea, with seven games left to play.
With second-placed Manchester City facing a European ban for breaching UEFA financial rules, fifth place should guarantee qualification for the lucrative Champions League, unless City win an appeal in the Court of Arbitration for Sport. City will discover the fate of their appeal next month, while United could also qualify for Europe's elite club competition by winning the Europa League this season.
"Let's see how quickly we can get our fans back into the stadium," Solskjaer added. "There's still a lot of uncertainty and these three or four months, every businessman in the world, every footballer in the world, I think everyone is still unsure what the effect will be."
(With agency inputs)