Ratcliffe’s arrival as United’s new controlling co-owner was confirmed a year ago, with the British billionaire officially taking charge in February.
Since then, he has implemented significant cost-cutting measures at Old Trafford. ..Continue Reading
Approximately 250 staff members have been laid off, credit card privileges revoked, and ambassador contracts, including one with Sir Alex Ferguson, have been terminated. Despite these cuts, United have continued to invest heavily in football.
Over £200 million was spent during the summer transfer window, and the club has also paid compensation to Erik ten Hag and Dan Ashworth following their dismissals.
Another cost-cutting move occurred in May before the FA Cup final against Manchester City. The club informed staff that the traditional perks of free tickets, travel, food, and accommodation would not be provided.
Instead, staff had to pay £20 for a coach trip to Wembley and received only the match ticket. According to The Athletic, this decision left Fernandes “taken aback.”
The midfielder was so surprised that he offered to cover the cost of the usual extras himself. However, the club’s new management rejected his offer and stuck to their cost-cutting plan.
Fernandes went on to play all 90 minutes as United won the FA Cup, which was a highlight of Ratcliffe’s tenure. The billionaire has defended his stringent cost-cutting program, stating that “hard choices” are necessary.
“Manchester United has become mediocre,” he told the United We Stand magazine. “It is supposed to be one of the best football clubs in the world. We have to make some difficult and unpopular decisions.
“If you shy away from the difficult decisions, then nothing much is going to change. I know we get criticism in the press but we do need to challenge the cost of running this club because what I want to be free for us to do is buy really good footballers, not spend so much of the money on infrastructure.
“We can’t run a business at a loss, which is where United have been in the last couple of years. If you are losing money you have to borrow from the bank to pay for the losses. Eventually that becomes unsustainable.
“I don’t want to end up in a position where the genuine local fans can’t afford to come but I do want to optimise the ticketing. We need to find a balance – and you can’t be popular all the time either. I don’t think it makes sense for a Manchester United ticket to cost less than a ticket to see Fulham.”
