• July 19, 2024

Sir Jim Ratcliffe’s crackdown on Man Utd as Glazers waste money

Sir Jim Ratcliffe is implementing cost-cutting measures at Manchester United. As part of the crackdown on lavish spending, some staff members will no longer have access to chauffeur-driven private cars. INEOS, the club’s owner, has initiated a thorough audit conducted by Sir Dave Brailsford to improve the club’s financial situation. Reports indicate that Ratcliffe is scaling back privileges for staff members, including cancelling corporate credit cards for department heads.

Interpath Advisory, a restructuring consultancy firm, has been appointed to investigate the club’s spending across all departments. Preliminary results suggest that the Glazers have been “wasting a lot of money,” and INEOS is advised to reduce costs. The focus of the investigation is on business costs rather than player wages and transfer market spending. The goal is to enhance the club’s financial power for player recruitment by reducing expenditure in other areas.

Additionally, there is a commitment to comply with profit and sustainability rules, especially following recent penalties imposed on other clubs. Manchester United has been fined for breaching Financial Fair Play rules in the past, and the club’s chief operating officer emphasized the need for disciplined spending to remain compliant. Sir Jim Ratcliffe has stressed the importance of operating within the club’s means to avoid breaking financial rules, particularly in relation to Financial Fair Play. United remains confident in their ability to stay within profit and sustainability rules, despite previous heavy expenditure.

The club has reported record revenues and predicts strong annual revenues in the coming years.

Leave a Reply

Your email address will not be published. Required fields are marked *