INEOS, since becoming co-owners of Manchester United, have been on a cost-cutting spree which has not impressed fans and staff.
They became highly unpopular when they took the decision to raise ticket prices while discounts for youngsters and over-65s were also scrapped, leading to protests with more to follow.
And now, according to The Sun, Sir Jim Ratcliffe has also decided to stop funds to the Association of Former Manchester United Players, a charity which helped former footballers who didn’t earn the millions raked in by today’s superstars.
“United used to previously give £40,000 a year to the association which put on four events a year where ex-players can rub shoulders with others who signed professional forms with the club but never made a first-team appearance.”
AFMUP charity donation cut
The report mentioned how the charity found out about Sir Jim’s latest cost-cutting measure. Trustee Jim Elms, 84, who played for United’s youth team and reserves from 1957 to 1960, said, “We sent a letter to say we’ve not been paid. Nobody came out and told us so we had to send another letter.
“That’s when we started hearing things that it was going to be the end of us.”
The association has, among its 300 members the likes of former skipper Bryan Robson, Alex Stepney, Denis Law, Brian Kidd, Arthur Albiston, Frank Stapleton, Denis Irwin and David May just to name a few.
The move has been widely lambasted with many people unfairly comparing the British billionaire with Scrooge.
A source told the publication, “Everyone knows the club needs to save money but some things just shouldn’t be cut.
“Some of the players who benefit from this organisation never earned a penny from football and aren’t in the best financial circumstances.
Sir Jim’s series of unpopular decisions
“Sir Jim has been clear that United need to save money, but this move has left him looking like a Christmas Scrooge.”
Ratcliffe, Britain’s richest man, is worth an estimated £23 billion and claimed he is a local boy while professing his love for the club before INEOS eventually acquired the minority stake.
But since then, he has taken a series of poor decisions which have impacted everyone across the club, starting with 250 job cuts while also cancelling Christmas dinner.
A source close to the club backed INEOS’ call, claiming that the Red Devils are suffering from financial strife after years of mismanagement under the Glazers.
“We are no longer able to make charitable donations to AFMUP while the club is making significant losses. Our focus is on putting the club back on a sustainable financial footing so that we are in a position to invest in our priorities of achieving success on the pitch, and renewing our infrastructure.”
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Ayantan Chowdhury
Ayantan has worked for 10 years in the Indian sports media industry, writing for the biggest newspapers and websites but his heart was always set on writing about his favourite club. Currently an editor at The Peoples Person. You can follow him on X: @ayantanc_25
