United finished sixth last season with their lowest points total of the Premier League era.

Ten Hag has been tasked with transforming the Red Devils into a team not only capable of finishing in the top four but also challenging for major honours again.

According to The Sun, United could miss out on up to £90m if they fail to qualify for the Champions League for a second successive season.  

It is claimed that under the terms of their £75m-a-season, ten-year sponsorship deal with adidas, United would forfeit £25m if they miss out on the top four for a second straight year.

The remainder of the £90m figure is made up of the potential loss of millions in prize money, gate receipts and television revenue from playing in European football’s top club competition.

Ten Hag is reportedly paid around £9m per season at Old Trafford, which is thought to be less than half of what Pep Guardiola earns at rivals Manchester City.

Ten Hag will reportedly earn a £3m bonus if United qualify for the Champions League (Image: Alamy)But the Dutchman’s contract with United is said to be packed with incentives, including a potential £3m bonus payment he would receive if United qualify for the Champions League.

Ten Hag has made a promising start to life in Manchester and is unbeaten as United manager, with the Red Devils recording three wins and a draw so far in pre-season.

After thrashing rivals Liverpool 4-0 in their opening warm-up game, United followed that up with victories over Melbourne City and Crystal Palace on their tour of Australia. 

Ten Hag is thought to be on a £9m-per-season contract at Old Trafford (Image: Alamy)United next face Atletico Madrid in Norway on Saturday before playing their final pre-season friendly against another Spanish side, Rayo Vallecano, at Old Trafford on July 31.

Ten Hag’s side will then open their Premier League campaign at home to Brighton on August 7.