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Manchester United pay price of European failure after revenue drops in last quarter

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Manchester United have released their finances for the three months to the end of September, with revenue down by 9.9%.

Having failed to qualify for the Champions League for the first time in 20 years, the fall will come as little surprise to many.

The Red Devils lost out on payments from current kit manufacturers Nike due that would have been incurred by participation on Europe's grandest stage.

Club chief Ed Woodward said 2014-15 financial results would reflect "absence from the Champions League".

The figures also don't reflect on the club's historic kit deal with Adidas, which kicks in at the start of the 2015-16 season, and is worth £750m over ten years. The club has also in this time signed five additional sponsorship deals.

The club's seventh placed finish last season cost former manager David Moyes his job, but despite a host of high profile signings, new boss Loius Van Gaal has found life at Old Trafford just as tough to date, as they occupy the same place in the league as they finished last season.

The club have mooted possible alternatives to make up the financial losses of the absence of the Champions League, with mid season friendlies overseas being touted as one possible idea.

Old Trafford is on friendly hosting duty itself tonight, as Lionel Messi and Christiano Ronaldo, widely thought as the world's two greatest players, go head to head as Argentina take on Portugal.

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