Moyes pay-off ‘single digit millions’

Manchester United’s pay-off for David Moyes will be "single-digit millions" it has emerged, as club chiefs promised major investments on new transfers to ensure a return to the Champions League.

United executive vice-chairman Ed Woodward also said an announcement on a new manager would be made “in due course” — it is understood the expected appointment of Dutch coach Louis van Gaal will not take place before next week.

Woodward said in a conference call to club investors that the cost to United of not playing in the Champions League next season would be “in the mid-£30millions” and that there was a determination to return to Europe’s top club competition.