Ed Woodward should be sacked by Manchester United’s owners, according to the club’s former captain, Gary Neville.

Speaking in the wake of United’s 2-0 defeat to Liverpool at Anfield on Sunday, Neville said Woodward has presided over too much failure as United’s executive vice-chairman and that the time had come for the Glazers to dismiss the former investment banker.

United have spent around £850 million on players in the six and a half years since Sir Alex Ferguson retired and have the Premier League’s highest wage bill but are currently 30 points adrift of leaders Liverpool in fifth, tied for points with Wolves.

They have finished in the top four only twice since 2013 and are at serious risk of missing out for the fifth time in seven seasons. Failure to qualify for the Champions League for a second successive season would also result in a hit to income from the club’s kit sponsorship deal with Adidas, although winning the Europa League offers an alternative route back into Europe’s flagship cup competition.

Neville has been a vocal critic of Woodward’s running of United and claims something is “really wrong” if the executive continues to cling to power given the problems that have mushroomed at the club on his watch.