Manchester United owner Sir Jim Ratcliffe is reported to believe he has had little choice but to implement strict cuts to save the financial future of the club.
The Ineos chief has come under severe criticism over the past few months with what many people consider excessive and cruel economic cuts at the club.
After United’s win over Fulham at the end of last month, Sir Jim Ratcliffe was confronted by fans outside Craven Cottage over the club’s controversial decision to hike up the price of matchday tickets.
The chemical company owner has also made the unpopular decision to stop funds to the Association of Former Manchester United Players.
It was also revealed just two days ago that Ineos were planning on a further 200 job redundancies at Old Trafford and staff have been left reeling by the departure of much loved head of team operations Jackie Kay.
The Guardian report thought that despite the deep unpopularity of such decisions, Ratcliffe asserts they are necessary to save the economic future of the club.
The paper states that, “Sir Jim Ratcliffe believes his decision to cut about 200 more jobs at Manchester United is necessary to help the club avoid going bust.”
“The minority owner is said to feel he has little choice other than to take tough measures after United lost £300m over the past three years, but he is confident that acting now can lead to the club being profitable and highly competitive in two years’ time.”
Club insiders claim that the club would have simply run out of cash last year were it not for the £240 million Ratcliffe injected.
Ratcliffe is said to be aware that his cost-cutting policies are unpopular with fans but he “feels there is a lack of awareness outside the club regarding the full picture of United’s situation.”
The balance sheet is said to be “severely stressed” but the Englishman is said to be confident that the club can become competitive again financially if they remain on this path.
It is certainly an unenviable position to be in as fans will demand signings in the summer to support Ruben Amorim but with the debt spiralling, tough choices still need to be made. Nonetheless, United have always prided themselves on being a family club with long-serving members of staff and that culture is being dismantled in large chunks through all of the severe cuts implemented by the new owners.
Featured image Michael Regan via Getty Images
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Alex Browne
Alex is a huge Manchester United fan, inspired by greats of his homeland such as George Best, Harry Gregg and Norman Whiteside. Proud owner of such niche shirts such as Kleberson, Eric Djemba-Djemba and Gary Neville. Grew up pretending to be Ruud van Nistelrooy and Ole Gunnar Solskjaer in the back garden, with little success.
