MORE FINANCIAL STUFF

'We are happy with our results. They show the resilience of our financial performance. The impact of the new Premier League TV contracts will show a fall in our domestic TV income of £8million. In the Champions League we will show a drop there of up to £6million.Media revenues will take a hit but other areas are showing a positive sign. There are certain other elements we have to work on and expand those to offset the downturn in media revenue.'

'We are one of the most attractive clubs in the world to do business with and to follow,' he added.

'We are still one of the best clubs in the world. We have spent £50million since January this year on players and acquired Wayne Rooney, one of most experienced players in many a year. Look at the strength of the balance sheet - we have £36million in cash. We don't think we are on a downward spiral. We can get new players in and will continue to do that.'