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Over the recent months, we’ve seen some massive changes take place at Manchester United, from overhauling the operational directors to making redundancies, from changing dining arrangements to designing an entirely new stadium.
At the start of the summer, it was reported that around 250 staff of United’s 1100 employees were being cut in order to recoup funds to support Profit and Sustainability Rules (PSR) compliance. However, these actions seem to be having a knock-on effect around the club, with even the academy feeling the hit.
Whilst some of these changes have seemed drastic at points and have been coming thick and fast, a new report has now revealed the motivation behind them.
Martyn Ziegler has recently reported on X that Manchester United made an incredible £113.2 million loss last season.
This extreme loss explains some of the financial challenges facing the club with a revenue of £661.8 million.
At the start of the summer, United only had a £50 million transfer budget to work with, seeing Dan Ashworth hold firm on transfer negotiations by not rising to transfer demands, even as far as looking at other options, but also not giving in to lower offers just to make a sale.
The transfer business completed this summer has had a massive impact on the cost of players’ salaries, with an impressive figure of around £68.9 million being saved annually in wages from last year.
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