Van Gaal And Former United Coaching Staff Receive £8.4m Compensation
Manchester United recently announced their financial results for the 2015-16 fiscal year, and the numbers have revealed how much Van Gaal and his coaching staff were compensated following their dismissal.
United are officially the first club in the history of English football to record annual revenues in excess of £500 million (half a billion), after the club announced in a financial report that it had made £515.3 million in a single year.
The club further revealed that they had to pay out just under £10 million to former manager Louis Van Gaal and his coaching staff, after the Dutchman was sacked from the position.
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Louis Van Gaal was sacked with still a full year to go in his contract with Manchester United, after he failed to finish in a top 4 position in the Premier League.
The Red Devils were also forced to write-off Bastian Schweinsteiger as an asset to the squad. The club did not officially announce that the midfielder was written off, but a sum of £6.7 million was listed under ‘exceptions items.’
Manchester United’s Chief Executive, Ed Woodward, was positive about the club’s financial status, as well as their performance on the pitch.
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“In May, we announced Jose Mourinho as our new manager,” said Woodward. “His appointment is a reflection of the club’s determination to return to the pinnacle of our sport.
“Despite the result from Saturday [when United lost 2-1 at home to Manchester City], there is positive momentum behind the team this year and expect this season to be one of the most exciting in the Premier League’s history.”
Manchester United even broke the world transfer record this season, after they re-signed Paul Pogba from Juventus for a massive £89 million.
Reports claim that United will continue their heavy spending in the market next season, as they attempt to sign Antoine Griezmann from Atletico Madrid.
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