Manchester United chief Ed Woodward says missing out on Europe cost David Moyes his job. Woodward was speaking in a conference call to club investors.
Woodward said finishing seventh in the Premier League had been "very disappointing" and suggested missing out on Europe had led to the sacking of Moyes last month.
He said: "The club's expectations - and you will see this reflected in the transfer market and what we have recently done from a managerial perspective - are absolutely to get back into the Champions League.
"We will be active in the transfer market and deals will be done."
In relation to the pay-off to Moyes and his backroom staff who also left the club, investors were told the figure would be revealed in September and it was expected "to be single-digit million pounds".
