.
Get all the latest football news, highlights and analysis delivered straight to your inbox with Fox Sports Sportmail. Sign up now!!!
United have made 450 staff redundant, 39% of the club’s workforce, so far this financial year as penny pinching methods including scrapping staff lunches and ending legendary manager Sir Alex Ferguson’s £2 million-a-year ambassador deal have been implemented.
Ratcliffe, the billionaire owner of British multinational conglomerate Ineos who bought a 28.94 per cent stake in the club from the Glazers a year ago for £1.25 billion with a commitment to inject a further £232 million, has total control over football operations and has copped flack for the redundancies in particular.
But in separate interviews with the BBC, UK Telegraph as well as with club great Gary Neville for Sky Sports and The Overlap podcast, Ratcliffe reiterated that United had “gone off the rails” and his measures were necessary to get the club back on track.
“In super simple terms the club has been spending more money than it has been earning for the last seven years, including this year,” he said.
“If you do that for a prolonged period of time it ends up in a very difficult place and, for Manchester United, that place ended at the end of this year. At the end of 2025, Manchester United would have run out of cash. There would be no cash at the end of this year. That is the first time we have ever said that in public, but that is the fact of the matter.
“It [United] goes bust at Christmas [without change]”.
“Do you want to run an organisation as the press would like you to run the organisation or run the organisation the way you think is the best?” Ratcliffe added.
“My mother would say: ‘You look after the pennies, the pounds look after themselves.’
“[The club can say to …
Read More
