LONDON, Feb. 14 (Xinhua) -- It cost Manchester United more than 25 million U.S. dollars to terminate the contract of manager Jose Mourinho, the English Premier League giant revealed Thursday in its latest financial statement.
Mourinho was fired after a run of poor results, including a painful culminating 3-1 defeat by close rivals Liverpool.
The club's caretaker manager Ole Gunnar Solskjaer won 10 of his first 11 games before being thrashed 2-0 by PSG in their Champions League round 16 match on Tuesday.
The club's financial statement was issued by its U.S. owners to the New York Stock Exchange which reported that exceptional items for the quarter year was a cost of 19.6 million pounds (25.12 million U.S. dollars) relating to compensation to the former manager and some members of the coaching staff for loss of office.
Mourinho joined the club in 2016 and led Manchester United to League Cup and Europa League titles, signing a contract extension in January 2018 until 2020 with the option of an extra year.
Manchester United executive vice-chairman Ed Woodward said Solskjaer's appointment and that of his assistant, Mike Phelan, former coach under legendary manager Sir Alex Ferguson, has had a positive impact throughout the club.
Woodward said: "Ole has made a fantastic start reviving performance of team."
He added that having reached the fifth round of the FA Cup and now sitting fourth in the Premier League, above Chelsea and Arsenal, MUFC now has a strong finish to the season.
"We are delighted with the improvement in the team's performances since December and we look forward to a strong finish to the 2018-19 season," said Woodward.
For the latest quarter year reviewed, the club said it had recorded a record revenue of 267 million U.S. dollars. For the fiscal year 2019 the club says it expects its revenue to be between 788 million to 807 million U.S. dollars.