February 12 – Manchester United’s owner Sir Jim Ratcliffe (pictured) is planning more redundancies at the club, part of a bid to cut costs and losses which have reached an accumulated £300 million over the past three years.
The latest round of cuts will reportedly affect more than 100, perhaps rising to 200 staff members. Last summer,United made 250 employees redundant as part of wide-ranging cost-cutting measures following the arrival of Ratcliffe as a minority owner.
The club previously relieved Alex Ferguson of his £2 million a year ambassadorial role and did not rule out raising ticket prices.
The spending in the recent transfer window reflected the malaise at United. In need of reinforcements, the club spent £25 million on Patrick Dorgu from Lecce. It was Manchester United’s sole acquisition during the transfer window. The club offloaded 75% of Marcus Rashford’s £365,000 per week salary in a loan deal with Aston Villa.
United have been in a prolonged downward spiral since the departure of manager Ferguson. Last autumn, Portuguese coach Ruben Amorim arrived in the latest bid to revive the club’s fortunes. Dutchman Erik Ten Hag was dismissed, costing United £21.4 million.
Ineos and Ratcliffe have taken control of football operations at Old Trafford. The English minority owner has previously demanded that the club’s fans be patient. It remains to be seen how much United’s new cuts will benefit the club’s finances and revenues.
Contact the writer of this story at moc.l1739386194labto1739386194ofdlr1739386194owedi1739386194sni@i1739386194tnuk.1739386194ardni1739386194mas1739386194