Manchester United are set to announce huge quarterly losses.
The Daily Star says United are set to reveal their first-quarter losses have ballooned from £470,000 to more than £21million, partly due to David Moyes' managerial stint.
His ill-fated reign saw The Red Devils fail to qualify for this season's Champions League, the lucrative competition for Europe's top football clubs. It is the first time United has been absent from the competition for 18 years.
Apart from pushing it to a £21.3m pre-tax loss for the three months to September 30, the lack of income from the Champions League is expected to cut revenues 15.3% to £83.4m.
The club is not involved in European football at any level for the first time in more than 20 years, as it failed to qualify even for the secondary competition, the Europa League.
