Ineos and Ratcliffe planning more cuts at Old Trafford with new owners set to cut 200 more redundancies in the club.
Ineos and Ratcliffe plan 200 more redundancies at Manchester United.
Ratcliffe made the decision to lay off about 250 employees in the autumn because of the club’s dire financial situation. Although management has not yet publicly alerted United employees about the possibility that their employment may be in jeopardy, it is thought that they are prepared for this to happen.
Ratcliffe invested $300 million (£240 million) in the club last year after rising to the position of single largest minority shareholder. However, because of the significant on- and off-field expenses, the long-term financial situation is still difficult even with this cash for the renovation of United’s Carrington training camp.
Even though Ruben Amorim’s team needed a significant rebuild, United only paid £25 million for Patrick Dorgu from Lecce during the January transfer window.
It’s unknown how much money Ratcliffe’s suggested layoffs will bring in for the summer transfer market. Despite making 250 cuts in the past and offloading 75% of Marcus Rashford’s £365,000 weekly wage by loaning him to Aston Villa, United still had a little winter window budget.
According to United’s financial statements from late November, the team had to spend £21.4 million to fire Erik ten Hag and bring on Amorim to take his position. On October 28, Ten Hag was fired, and his coaching staff—Ruud van Nistelrooy, Pieter Morel, Jelle ten Rouwelaar, and René Hake—followed. In exchange, £10.4 million was paid in compensation.
Signing Amorim, plus the coaching quintet of Carlos Fernandes, Jorge Vital, Adélio Cândido, Emanuel Ferro and Paulo Barreira who followed him from Sporting, cost a further £11m.