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Manchester United are facing severe financial pressures, as highlighted by the extent of cost-cutting measures that Sir Jim Ratcliffe is taking.
Since taking over, INEOS, led by Sir Jim Ratcliffe, have cut funding to associated groups like the disabled supporters association, as well as cutting Sir Alex Ferguson’s multi-million-pound contract as the club’s global ambassador.
However, we wasn’t the only one to be cut, with around 250 staff having lost their jobs since the start of Ratcliffe’s reign.
Now, Ratcliffe is looking to strike again with a further 100 jobs set for the chop.
The Daily Mail has reported that whilst the full number of redundancies is unknown, it’s expected to be between 100 and 200 staff members.
Before Ratcliffe took over the football operations at Old Trafford, the club employed 1112 members of staff, significantly higher than the other top English clubs, with their local rivals Manchester City employing 520.
It’s understood that the cuts are being made to free up funds for spending on Ruben Amorim’s first team in a bid to get better results.
United’s on-field performances are now risking drastic financial implications with a £10 million penalty from sponsors Adidas if they don’t qualify for the Champions League next season.
The club could also face a significant drop in funding for their current position in the Premier League if it doesn’t improve by the end of the season.
Over the last three years, despite record revenues, United have made a loss of £300 million in the last three years.
The ongoing review is focusing on all areas of the organisation for potential savings in a bid to make the club leaner, redirecting all available funds to strengthening Amorim’s squad.
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Source: Centred Devils
