Ed Woodward: Ole Gunnar Solskjaer Will Be Given Red Devils' Financial Backing

Manchester United executive vice-chairman Ed Woodward has told investors the club is ready to back manager Ole Gunnar Solskjaer in the transfer market.

The Red Devils failed to qualify for the UEFA Champions League after finishing sixth in the Premier League, and the team won just one of their last nine games before the end of the campaign.

Woodward held a conference call on Thursday and gave details about the financial results of the business.

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In a statement provided ahead of the call, Woodward said:

"After a turbulent season, everyone at Manchester United is focused on building towards the success that this great club expects and our fans deserve. Preparations for the new season are underway, and the underlying strength of our business will allow us to support the manager and his team as we look to the future."

The supremo told investors United's financial position remains strong and the club is prioritising its chase for silverware, per Samuel Luckhurst of the Manchester Evening News:

The Old Trafford giants have spent five seasons outside of the title picture in England, and despite a second-place finish in the Premier League last term, the club has rapidly fallen behind Manchester City and Liverpool.

Solskjaer has provided details about his vision for the team and told MUTV's Helen Evans he will be searching for recruits with a specific mindset:

"You have got to have qualities, and our fans want to see exciting players. We want to get up from our seats. You see defenders who defend like that's their life; that's the most important thing.

"When we go to press with Jesse [Lingard] and Marcus [Rashford], in the games against Barcelona, Paris Saint-Germain, Liverpool and Chelsea, when we start these games, our fans clap a striker making a tackle. That's the way it's been and in our culture. You have to have that work ethic, and we're scouting the market trying to find the right ones."

The size of Solskjaer's transfer kitty will be up for debate among fans, but Woodward announced overall revenue has risen by 5.9 per cent over the latest financial period up until March 31, per BBC Sport's Simon Stone:

The forthcoming summer is one of the most important in the modern era for the Red Devils. With no Champions League football to offer big-name players, Woodward will have to put together a host of enticing contracts for new signings.

The last time United fell into the UEFA Europa League, Woodward brought Zlatan Ibrahimovic, Paul Pogba and Henrikh Mkhitaryan to the club, and the Red Devils went on to win the competition alongside the EFL Cup in 2016-17.