- Associated Press - Monday, January 20, 2014

LONDON (AP) - Trying to explain yet another setback, David Moyes wouldn’t take the bait.

Manchester United’s 3-1 loss at Chelsea on Sunday - the team’s seventh of the Premier League season - left the defending champions 14 points behind first-place Arsenal.

“Some people might call it a crisis,” it was suggested to Moyes after the match at Stamford Bridge.

“Who?” the United manager snapped.

“Me,” the reporter responded.

“It’s not the performance that’s expected,” Moyes answered. “That’s correct.”

The reporter tried again: “Is it a crisis?”

Moyes: “No. That’s your word, not my word.”

Just like predecessor Alex Ferguson, Moyes wasn’t biting. But the league standings look troubling enough - by United’s standards - without Moyes adding to the sense of uncertainty with pessimistic sound bites.

Especially when the current United manager could point out that he inherited a squad in need of strengthening, particularly in midfield.

Especially not when Wall Street investors will be watching closely at a business whose share price has slumped from a high of $19.34 after Ferguson delivered the 20th English title to $15.20 at Friday’s close.

A further fall in fortunes could wipe away hundreds of millions of dollars of value of the club, which is controlled by the Glazer family, and hamper attempts to cut the debt that was last recorded at about $593 million.

It’s too early to say whether United’s slump is a blip or if the Old Trafford empire is crumbling, just as Liverpool went into decline after dominating in the 1970s or 1980s.

Off the field, United remains a commercial juggernaut, projecting that it will rake in about $690 million in 2013-14.

Such forecasts, however, are based on United finishing at least third in the league and reaching the quarterfinals of the Champions League and the domestic cups.

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