Man United not looking to buy players in January, claims United chief Ed Woodward

Manchester United chief Ed Woodward

Manchester United chief Ed Woodward claims the club will not spend on "short-term fixes" in January to get them back in the Champions League.

United's results out today show their revenue dropped nearly £10million without Champions League football in the first quarter of the financial year 2014-15.

Woodward has set boss Louis van Gaal the target of qualifying for the competition again by achieving a third-place finish to make sure this loss in income is not repeated.

In numbers: Manchester United revenue FALLS £9.8m as true cost of David Moyes's disastrous spell is revealed

Recap: Man United financial figures: Reaction to the Q1 results

However the United executive vice chairman says the club are unlikely to add to the £151million they splashed out on new players in the summer.

Woodward says they will only move if long-term targets become available in January, which he concedes is unlikely.

He told an investor conference call: "We are not looking to enter the market for short-term fixes.

"However we have targets we are looking at for next summer. Should any of them become available in January, which is obviously rare, we will consider acting.

"But I think in terms of expectation setting, we all need to recognise that is a low probability."