Man United will lose out on £20m payout unless Jose Mourinho can turn their season around
Published 17/11/2016 | 18:09
Man United are in danger of missing out on 30% of their yearly shirt sponsorship money unless they can climb back into the Premier League top four by the end of the season.
The Red Devils are in the second season of a mammoth 10-year, £750m kit deal with adidas, but the club today announced that their annual payment will be reduced by 30% - or £21m - if they miss out on the Champions League for a second straight season.
United are currently in sixth place, six points off the top four, but could also reach the marquee tournament by winning the Europa League.
"There is a clause in the Adidas contract that applies if we are missing from the Champions League for two years in a row," said United's chief financial officer Cliff Baty in quotes reported by the BBC.
"An example would be if we [were due to receive] £70m [in a given year], we would not receive £21m."
Baty also said that failure to get out of their Europa League group would cost the club 'single digit millions'.
United's first quarter revenue, which was also announced today, was down £3.4m (2.8%) to £120.2m.