David Moyes will receive a compensation payment from Manchester United in ‘single digit millions’ following his sacking as the club’s manager last month. Ed Woodward confirmed the size of the payment in a call with NYSE analysts on Thursday, as the club edge towards the appointment of Louis van Gaal as their next coach.
Moyes was relieved of his duties just 10 months into the six-year contract he had signed after being handpicked by Sir Alex Ferguson as his successor at Manchester United. The failure to reach the Champions League meant the club were able to fire Moyes without the need to payout the rest of his deal. But Moyes is still in for a sizeable payment.
As reported by Ian Herbert of The Independent, Woodward, the executive vice chairman of Manchester United, spoke to analysts from the New York Stock Exchange, who asked him to mention amount owed to Moyes.
Woodward outlined that Manchester United are expecting to reach an agreement with Moyes that will be less than £10 million, although the exact amount is still unclear. This was actually the only time Moyes was mentioned during the call between Woodward and the experts at the NYSE.
He was also pushed on why Manchester United are expecting a rise in player wages next year, which Woodward confirmed was because the club are striving to make a number of signings in the summer transfer window.