Manchester United are aiming to get back "to the top of domestic and European football" after appointing Ruben Amorim as head coach, the club's CEO Omar Berrada ha said.

Amorim has overseen a 1-1 draw with Ipswich Town and will take charge of his first game at Old Trafford against Bodo/Glimt in the Europa League on Thursday following his arrival as successor to former boss Erik ten Hag.

The 39-year-old former Sporting CP coach has inherited a team languishing in the bottom half of the Premier League table following a disappointing start to the season. Berrada insists the aim of the appointment is to get the club back competing for the biggest trophies.

"The season is now well underway for both our men's and women's team, and we are keen to ensure both are as competitive as possible," Berrada said as United released their latest financial results on Tuesday.

"We are delighted to have appointed Ruben Amorim as head coach of our men's team and remain committed to returning Manchester United to the top of domestic and European football."

Sources have told ESPN that Amorim will be working with a reduced transfer budget for the foreseeable future as the club continue to ensure they are compliant with the Premier League's Profit and Sustainability Rules.

United have made a series of redundancies since Sir Jim Ratcliffe's arrival as a minority shareholder in February in a bid to cut spending.

The cost of sacking Ten Hag and his staff and hiring Amorim is set to be revealed in United's next financial results.

"Our cost and headcount reductions remain on track, and we are pleased to have seen further commercial traction," Berrada said.

"Our renovation of the Carrington Training Centre is progressing well, while the Old Trafford Regeneration Task Force continues its work.

"Once it has delivered its recommendations, we will then take some time to digest them and evaluate all our options in the upcoming year."

United reported a smaller adjusted net loss for the first quarter of fiscal 2025, helped by cost cuts and favourable exchange rates, and maintained their fiscal 2025 core profit and revenue forecasts.

Adjusted net loss was 349,000 ($439,007) for the three months ended Sept. 30, compared with a loss of 8.6 million a year earlier. Revenue for the three months fell 9% to 143.1 million.

Information from Reuters contributed to this report