Woodward plans United spending

Manchester United executive vice-chairman Ed Woodward has cleared the decks for a summer transfer splurge aimed at ensuring the Red Devils do not get lost in the wilderness. Woodward was speaking to investors following the announcement of United's second-quarter results which, as expected, showed significant rises in commercial and broadcasting revenue. Whilst United's financial power has been well established for many years, what has created significant interest at present is the likelihood of them not qualifying for next season's UEFA Champions League and the impact that would have. Woodward played down the consequences of a period outside Europe's elite, citing the present example of Liverpool."It takes a long time to build a huge fan base," he said. "That will not go away for a long time. "Some of our competitors have not won league for a long time and they still sell a lot of shirts globally; one of them is just down the road from us.That is not something I am sitting here concerned about." What Woodward is clearly anxious to avoid is presiding over the demise of a club that has won 13 of 21 titles since the Premier League was formed, that last season finished top by 11 points and as recently as 2011 reached its third Champions League final in four seasons. And that is going to cost money. Lots of it. "We are not afraid of moving in the market in a way we haven't seen in previous years," he said. "Our starting-point long-term strategy is to focus on building a competitive squad that challenges for trophies. The financial strength we have demonstrates we have the ability to do that. "We are not in the position we want to be in. We are working hard to change that. With 13 games to go there is still a lot to play for. But I am focused on the long-term strategy of making sure we are building a competitive squad that challenges for trophies." Source: FIFA.com