As part of a “transformation plan” to strengthen the club’s financial sustainability, Man United said on February 24 that they anticipate job cuts up to 200 additional employees.
Following Ineos chairman Jim Ratcliffe’s purchase of a stake in the Premier League club, approximately 250 employees had their jobs off in 2024 as part of the first wave of cost-cutting measures.
Despite criticism from fans, United has increased ticket prices.
Financial Priorities: Profitability and Football Success
The aim of the plan, according to a statement released on February 24, is to bring the club back to profitability following five years of losses since 2019.
According to the statement, this will give the club a stronger financial foundation on which to invest in better infrastructure and the success of both men’s and women’s football.
Redundancies and Consultation Process Explained
Subject to employee consultation, the club expects that between 150 and 200 jobs may be cut off as part of these measures. The 250 roles that were laid off last year would be joined by these.
CEO Omar Berrada on “Hard Choices” for Stability
The comprehensive measures are being implemented to “transform and renew” the club, according to United CEO Omar Berrada.
Sadly, this necessitates announcing additional possible layoffs, and we sincerely apologise for the impact on the impacted coworkers. Nonetheless, he stated that these difficult decisions are required to restore the club’s financial stability.
For the last 5 years in a row, we have experienced financial losses. This cannot go on.
Providing our supporters with success on the pitch and enhancing our facilities are our club’s top two priorities. We cannot make these investments if we are continuously losing money.
Management Changes and Football Performance Updates
According to the accounts released last week, the club paid a total of £14.5 million ($24.5 million) to dismiss manager Erik ten Hag, sporting director Dan Ashworth, and other football staff members.
After Ten Hag was fired, Ruben Amorim took over as United manager in November. However, he hasn’t been able to stop the team’s decline, and after a 2-2 draw with Everton over the weekend, they are currently 15th in the Premier League.
This season, United’s women’s team has had greater success and is currently ranked second in the Women’s Super League standings.
Manchester United Position in Deloitte Money League
In Deloitte’s annual Football Money League of the world’s richest clubs, which was released last month, Manchester United came in fourth place despite their financial difficulties.
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