Manchester United have revealed that they paid £8.4 million ($14.8 million) to their former manager, Louis van Gaal, after he was sacked in May 2016.
The Dutchman was fired despite winning the FA Cup and Jose Mourinho has since replaced him at the Old Trafford.
United also confirmed in their report for the last financial year, that they wrote off £6.7 million ($11.4 million) for the depreciation of value one player – believed to be midfielder Bastian Schweinsteiger.
The German, who recently retired from international football, has been told in clear terms that he is no longer part of the first team by Mourinho.
According to the report, United have become the first club from the United Kingdom to record over half a billion of revenue in a single financial year.
The club posted an operating profit of £68.9 million ($121 million), with their revenue up 30 per cent year-on-year, while their debt rose two per cent to £261 million ($461 million).
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