Manchester United paid more than $8 million to fire David Moyes and his coaching staff, the team announced Wednesday.
Moyes was fired after United finished in seventh place in the Premier League during his first season replacing Alex Ferguson.
United released its annual financial results, which included $8.4 million spent on "compensation payments on loss of office to the former manager and certain members of the coaching staff."
The club said it expects to make $80 million less this season because of its poor performance under Moyes. Last season's revenue was a club record $699 million.
United hired Louis van Gaal to replace Moyes. Van Gaal is winless after his first four matches.
- Paul Palladino