Manchester United's financial crisis leads to 200 workers being made redundant

The arrival of INEOS owner Jim Ratcliffe at Manchester United led to 250 staff being made redundant by 2023 and now Omar Berrada, the club's chief executive, has announced 200 more. When Ratcliffe acquired almost 28% of United's shares, fans greeted the news with enthusiasm. It seemed like a new era for the club, but it has been very different.

The British businessman has not met the expectations of fans who dreamed of big signings. Instead, he has implemented a policy of cuts with sackings of coaches and former players, reductions in some salaries, elimination of discounts for pensioners and children at Old Trafford, an increase in disabled parking fees, increased ticket prices...

Although Ratcliffe has taken over control of football operations, his investment has been focused on infrastructure rather than reinforcements for the team. He has also made it clear that there will be no further signings if no player sales are made.

Now, the atmosphere at Manchester United is full of uncertainty. The team managed by Ruben Amorim is also going through a sporting crisis, being in fifteenth place in the Premier League. Far from improving, the team has been singled out for its poor level. The coach himself went so far as to say that this could be “the worst version of Manchester United in history” and that the team’s performance affects the club’s financial situation.

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CEO Omar Berrada is implementing a transformation plan as the club has been losing money for five consecutive years. He says the cuts are necessary to be able to invest in sporting success and improve facilities without continuing to lose money.

Since the departure of Alex Ferguson and David Gill, the club has spent around £2.1bn on signings. In addition, Ratcliffe signed Newcastle's sporting director, but sacked him after five months. He also decided to get rid of manager Erik ten Hag, paying Sporting Portugal €11m to sign his replacement, Amorim.

The club has also spent £250m on signings over the past year. Players such as Leny Yoro, Manuel Ugarte and Josgua Zirkzee arrived in the hope of strengthening the team, but have not performed as expected. The sporting and financial crisis is worsening and employees live in fear of further cuts.