Louis van Gaal retains the support of Manchester United despite being knocked out of the Champions League, as the hierarchy believe the lucrative Premier League broadcast deal has significantly reduced English clubs’ hopes of winning Europe’s biggest prize.

The view of the United board is that TV companies are reluctant to move games to Friday night to assist clubs by giving players more recovery time ahead of Tuesday evening matches in Europe, as is done in some other countries.

Richard Scudamore, the chief executive of the governing body, secured a record £5.14bn contract, which is 71% more than the previous terms, with Sky and BT to broadcast the Premier League domestically from next season until 2019.

Yet despite United now being in the Europa League due to the 3-2 defeat at Wolfsburg on Tuesday night, Van Gaal’s position remains strong.

United believe Scudamore ceded too much power to broadcasters in return for record finances. In Germany’s Bundesliga, Italy’s Serie A and Spain ’s La Liga, matches are often moved to Friday before Tuesday evening Champions League matches.

Scudamore, though, has been left little wriggle room to try to assist domestic clubs in the European Cup, with viewing figures then dropping on Sky and BT. Friday evening is also not an optimum time for prime overseas regions who are expected to buy the rights for a further £3bn.

In Asia and the Far East a game kicking off at 8pm would have to be watched live in the middle of the night, or early hours of the morning. In America, this start time would come during the working day.

The view at Old Trafford is this is the prime reason for there being little prospect of United, Chelsea, Manchester City, Arsenal or any other club participating in the Champions League playing on Friday, rather than concerns that those not in the competition would deem it unfair.

Despite these reservations, there is a recognition at United that the finances on offer from the new contract are of huge benefit. Last season Chelsea, the champions, earned £99.9m. United earned £96.75m for finishing fourth, more than the £96.5m earned by third placed Arsenal due to the club having more “facility fees” – more live games.

But these rewards will rocket under the new deal. The 2016-17 champions will earn more than £150m and the rest of the top four will all receive at least £140m. The bottom club can expect £99m, close to Chelsea’s reward in May.

This now makes the domestic competition more of a priority to United than the Champions League.

These riches are also making it difficult for the top-ranking clubs to buy players from those mid-table or even lowest ranking ones. In the summer United failed to prise Sadio Mané away from Southampton for around £15m, though they did manage to take Morgan Schneiderlin from the south coast club in a £24m deal. Everton also resisted a £38m offer from Chelsea for John Stones in the same transfer window.

This means that despite United’s elimination from the Champions League Van Gaal’s hopes of being able to strengthen the squad in January are unlikely.