Since Sir Jim Ratcliffe became a minority shareholder at Manchester United in February 2024, his reign has been marred by errors both on and off the pitch. Taking over sporting control, he implemented drastic cost-cutting measures, which included laying off around 250 employees and raising ticket prices. While his approach aimed to save money to reinvest in the playing squad, it did not resonate well with fans or staff, leading to widespread dissatisfaction. With more layoffs rumored, the situation at Old Trafford remains contentious and uncertain.
Ratcliffe showed no interest in appeasing the masses with his first round of cost-cutting early in his reign. The founder of petrochemicals firm INEOS swiftly set about reducing the wage bill and made approximately 250 staff redundant after taking charge of day-to-day operations.
The silver linings have been few and far between during his first year as co-owner and there promises to be tumultuous times ahead as the Red Devils desperately attempt to pull themselves out of crisis.
The argument behind such decisions was that money saved could be reinvested into the playing squad, with the club suggesting that the previous bout of redundancies would save 45m per year.
Unsurprisingly, it was not a popular decision within the club or among supporters. But the layoffs may not be done there.
Collection
[
|
...
]