INEOS chief Sir Jim Ratcliffe risks the wrath of Manchester United supporters again as he is reportedly going to ‘slash funding’ to its charitable arm.
Ratcliffe’s takeover was met with immense positivity at Man Utd, but the British billionaire has quickly become a hated figure at Old Trafford.
The INEOS supremo has sanctioned a cost-cutting programme as he’s looked to streamline his business. He’s been criticised for pushing through mass redundancies, hiking ticket prices, scrapping Christmas perks and taking away Sir Alex Ferguson’s global ambassador role.
Now, a report from Sky News reveals Ratcliffe and Co. are to ‘target the Manchester United Foundation’, with ‘trustees of its charitable arm to be notified that it will slash the funding it provides in the latest example of cost-cutting’.
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The report claims ‘the Premier League club plans to inform the Manchester United Foundation that it intends to curb the benefits it provides – which totalled close to £1m last year – from 2025 onwards’. However, club chiefs are insistent that the cuts won’t be ‘significant’.
‘Sources close to the situation said a substantial element of the support given to the Foundation by the club would be axed, although Old Trafford insiders insisted on Sunday that it would still provide “significant” support to the charitable wing.
‘A decision is said to have been made by the club’s leadership to proceed with the cuts, with the Foundation expected to be informed about the scale of the reductions in the coming weeks.’
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This story emerged after Man Utd supporter group, The 1958, hit out at Ratcliffe over his “act of cowardice” with recent cuts.
Their statement said: “A year of INEOS and Sir Jim promised so much after the generational damage caused by Glazer ownership.
“Sir Jim stated he wanted to put ‘The Manchester back into Manchester United’. Everyone thinking a local lad would understand the community, the working class and the fabric of our great club. Far from it and the disgraceful comments in the recent interview comparing United to Fulham back this up. Actions will always speak louder than words. All the evidence so far shows a different picture.
“Price hikes for match going fans. Removal of concessions for kids & pensioners. Club staff losing jobs at all levels saving peanuts. The [Dan] Ashworth debacle costing millions. Ticketing services impacted by cuts (away collections). Moral of the club and hopes of fans in the gutter. Stewards bonuses being removed & numbers cut.
“You’ve seen the queues right (more on this another time). Donations to the charity that supports ex-United players stopped without any notice. Nothing but total contempt for the fans and the very fabric of what our club was built on.
“Sir Jim’s strategy to cut costs is nothing other than an affront on the working-class foundations our club was built on. It’s a penny wise and pound-foolish approach. Hitting those most in need and can least afford it who have no voice is an act of cowardice and shows a total lack of understanding.”
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“An investor with strength of conviction would address the real issues impacting the club. The Glazers. Their mismanagement of the club for over 20 years. Their crippling debt placed on the club and the millions of pounds paid by the club in interest payments each year.
“The strategy in place to recover from the Glazers s***show is targeting the vulnerable factions of our fan base. We now have the worse of both worlds. An attack from the top down with the Glazers creaming off the club and an attack from the bottom up with the ‘local Failsworth lad’ preying on those who can least afford it and have no voice.
“This cannot continue! We will not allow this to continue! If we do nothing as a fan base. Then there will be no more rivalries, no more fan culture.
“Only tourists and corporates happy for a day out with no emotional attachment. We are up for the fight. Is the Supporters Trust (how long are you going to stand by and do nothing)? Is the fanbase? In times of adversity and hardship we all need to look to each other for the light.
“It’s your choice. It’s now or never. No matter who you are underestimate the fans and Mancunians at your peril.”
