London - Manchester United revealed on Thursday that sacking Jose Mourinho cost the club nearly £20 million, with executive vice-chairperson Ed Woodward hailing the impact of Ole Gunnar Solskjaer.

The sum of £19.6 million which is listed under "exceptional items" in the club's second-quarter results, includes pay-outs for the members of Mourinho's staff who left with him after he was sacked in December.

The fortunes of the Premier League club have been transformed since Solskjaer took the helm as interim boss.

United are now in the top four after being 11 points adrift of the Champions League places when Mourinho left.

"The appointment of Ole and Mike (Phelan) as caretaker manager and assistant manager... has had a positive impact throughout the club," said Woodward. 

"We are delighted with the improvement in the team's performances since December and we look forward to a strong finish to the 18/19 season."

In the report, the club announced record revenues of £208.6 million for the quarter, which translate into earnings before interest, tax, depreciation and amortisation (EBITDA) of £104.3 million and an operating profit of £44million.

Real Madrid last month knocked Manchester United off the top of Deloitte's Football Money League after two years at the top for the Premier League club.