"Phase one of their seismic change has been executed. The shock of 450 redundancies. Virtually a complete overhaul of senior management. Significant changes purposely carried out at speed in a bid to ensure the process was not dragged out and the inevitable unease could start to settle much quicker. After the mass Manchester United exodus has come the rebuild. BBC Sport tells the story of Sir Jim Ratcliffe's Old Trafford revolution."
"When he paid 1.25bn for a 27.7% stake in United on Christmas Eve 2023, Ratcliffe vowed to take the club back to the top of the English game. He also wanted to make it profitable. Eye-watering financial losses of 113.2m to 30 June 2024 subsequently led Ratcliffe to claim the following March that, without action, the club would "go bust" by Christmas."
"The impact of the on-pitch upheaval is there for all to see. Erik ten Hag was replaced as manager by Ruben Amorim. More than 450m was invested in the first-team squad. Ratcliffe spent 50m overhauling United's Carrington training complex. Behind the scenes the changes have been seismic. The motivation was twofold. As they assessed the inner workings of the club, senior figures around the ownership concluded it was "over-dimensioned", according to one observer close to the process."
Sir Jim Ratcliffe bought a 27.7% stake in Manchester United for £1.25bn and prioritized returning the club to top-flight success and profitability. Severe losses of £113.2m to 30 June 2024 prompted warnings that the club risked insolvency without action. Ownership carried out rapid structural changes including more than 450 redundancies and a near-complete senior management overhaul. Erik ten Hag was replaced by Ruben Amorim and over £450m was invested in the first-team squad. Ratcliffe also funded a £50m upgrade of the Carrington training complex. The ownership considered the club over-dimensioned and restructured staffing and finances to reduce losses and pursue sustainable competitiveness.
Read at www.bbc.com
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