Manchester United reports that its revenue fell by 9.9 percent in the last quarter, amounting to £88.7 million (€111 million). Executive vice-chairman Ed Woodward commented that the results reflected the team's "absence from the Champions League."

The club posted reduced earnings in a number of key areas. Broadcasting revenues fell by 13 percent, merchandise sales and income from licensing products fell by 27 percent, and match-day income fell by 21.8 percent.

The report expressed confidence regarding future earnings, however, with digital media, sponsorship and retail mentioned as three areas where the company hopes to grow.

The club also indicated that it hopes to sign a number of high-profile international players including Di Maria and a loan deal with Radamel Falcao.

Over the last three months, Manchester United signed the world's largest kit-deal with Adidas – worth £750 million over 10 years.

If it is going to turn these figures around, the team needs to start delivering on the pitch. After the club starts wearing Adidas next season it faces a two-year race to get back into the Champions League, or it will lose 30 percent of the value of the deal. Yearly payments will drop from £75 million to £52.5 million if they fail to qualify.