REVEALED: Manchester United paid out £10MILLION in compensation to Ole Gunnar Solskjaer and his coaching staff after he was sacked in November, as the club reveal their net debt has increased to a whopping £494.8m under the Glazers
- Manchester United have released financial results for second quarter of 2022
- They reveal that the club paid out £10m to Ole Gunnar Solskjaer and his coaches
- The Norwegian was relieved of his duties as head coach in November last year
Manchester United shelled out £10million in compensation to Ole Gunnar Solskjaer and his coaching staff after the Norwegian was sacked last November.
The club have released their financial report for the second quarter of the 2022 financial year, which also reveal a rise in the club’s debt over the past 12 months to £494.8m.
It is the first financial results released by the club since Richard Arnold was installed as the new Cheif Executive Officer at Old Trafford at the beginning of February.
Ole Gunnar Solskjaer and his coaching staff received £10m after being sacked by Man United
Solskjaer was relieved of his duties last year following a run of just one win in seven in the Premier League – a sequence that had seen them fall 12 points behind league leaders Chelsea. He was replaced by interim head coach Ralf Rangnick, who joined in December.
As part of the decision to get rid of the United icon, his coaching team of Michael Carrick, Kieran McKenna and Martyn Pert also left the club.
Between them, their former employer paid out £10m. It has previously been reported that Solskjaer was due £7.5million in the event of his sacking.
United had also only handed new contracts to his backroom staff a matter of weeks before having their deals terminated.
Michael Carrick (left) and Kieran McKenna (right) were among the backroom staff to receive payouts
Carrick and Solskjaer have yet to take up a new role in the game since leaving Old Trafford. McKenna has been appointed manager of Ipswich Town, with Pert joining him as his No 2.
The financial report also gave an update on United’s level of debt, which has once again grown over a 12-month period.
It indicates that United’s net debt is now £494.8m, a rise of 8.6 per cent on the total of £455.5m last December.
United also revealed that their net debt has increased over the last 12 months by 8.6 per cent
There was brighter news on revenue, with the club reporting a growth of 7.3 per cent.
On the results, Arnold commented: ‘Everyone associated with Manchester United should have belief in the opportunities that lie ahead of us, both on the pitch and in the way we engage and serve our fans.
‘We have a clear vision and we are implementing a strategy to win with an empowered leadership team to drive that forward.’
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