by Our Sports Desk

MANCHESTER United will hand David Moyes a payoff in the “single-digit millions,” executive vice-chairman Ed Woodward said yesterday.

The total figure for the disgraced manager and the backroom staff who also left will be announced in September, Woodward told investors in a conference call.

The seventh-place finish — “very disappointing,” according to the vice-chairman — would cost the club “in the mid-£30 millions” through missing out on Champions League football.

Woodward said an announcement on a new manager would take place “in due course” — reports suggest that Dutch coach Louis van Gaal’s expected appointment will not take place before next week.

Woodward said record revenues for the third quarter of the financial year puts United in a good position to invest in the squad and challenge for the title next season.

United reported revenues of £115.5m for the quarter, up 26 per cent, mainly due to rises in income from Premier League broadcasting money and sponsorship deals.

“This puts us in a healthy financial position to continue to invest in the squad. Everyone at the club is working hard to ensure the team is back challenging for the title and trophies next season,” said Woodward.

“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.”

The club and 62-year-old Van Gaal, currently coach of Holland, are understood to have reached a broad agreement but no deal has yet been signed.

Van Gaal is busy with preparations for Holland’s friendly against Ecuador on Saturday and sources close to the club have ruled out any announcement taking place either side of that fixture.