Manchester United chief Ed Woodward sends Champions League places warning

The Premier League currently receives four places in Europe’s top competition as a result of the performance of its clubs in the event over the last five years – the same number as Spain and Germany receive, and one more than Italy.

However, last season all English participants were knocked out of the Champions League before the quarter-finals - while Italian champions Juventus reached the final - raising the prospect of Italy supplanting England in UEFA’s co-efficient rankings over the next couple of seasons.

And Woodward acknowledges that is a real possibility, one Premier League sides must guard against.

"In simple terms, if all of our teams perform badly compared to Italian and German teams there is a risk. Those two countries are the key," Woodward said.

"If we did as badly as last year and Germany and Italy did as well then that fourth position would come under threat."

United missed out on last season’s Champions League, but have returned to the competition this season and are on course to reach the knockout stages. Woodward is optimistic about the club’s economic outlook.

The club is expected to post overall revenue figures of between £500m and £510m in the next financial results.

"Overall we have a good start to the season - we are well positioned in the Premier League and top of our group in the Champions League," said Woodward.

"Our record first quarter revenues and EBITDA [used to analyse company profitability] demonstrate the continued strength of our businesses. We are delighted with the early progress made in licensing."