Ineos Plans Further Job Cuts at Manchester United Amid Cost-Cutting Drive, Financial Losses, and On-Field Struggles
Manchester United is bracing for another round of job cutting as co-owner Sir Jim Ratcliffe and his Ineos Group continue their aggressive cost-cutting measures.
Senior sources confirm that the club is exploring additional layoffs, with between 100 and 200 jobs at risk. The decision comes amid financial losses totaling nearly £300 million over the past three years, a figure insiders describe as “unsustainable.”
Although United has not officially confirmed the exact number of cuts, a final decision is expected within the next two weeks. The club is also considering shutting down its London office in Kensington, though officials insist they will maintain a commercial presence in the capital.
Ratcliffe’s Take Over at Old Trafford
Sir Jim Ratcliffe, a British billionaire and chairman of Ineos, completed his $1.6 billion (£1.25 billion) investment in Manchester United in February 2024. His involvement has led to a sweeping restructuring of the club’s operations.
Since taking charge of football decisions at Old Trafford, Ratcliffe and Ineos have implemented drastic changes, including:
- 250 staff redundancies
- Ending free travel for staff to finals
- Removing Sir Alex Ferguson’s status as a paid ambassador
- Raising matchday ticket prices to £66 per game, with no concessions for children or pensioners
Ratcliffe, who has a reputation for making bold, unpopular decisions, has already invested £300 million into upgrading the club’s Carrington training facility and exploring plans for a new stadium or a potential Old Trafford rebuild. A new ground could cost upwards of £2 billion, while a renovation would require around £1.5 billion.
Layoffs Justified as ‘Reinvestment’ in First Team
The primary argument for these cost-cutting measures is that savings will be redirected toward strengthening the first-team squad. The previous round of layoffs reportedly saved the club £45 million annually.
Despite the financial struggles, United has spent over £200 million on player transfers since Ineos took charge. However, some big names, including Marcus Rashford, Jadon Sancho, and Antony, have been sent out on loan.
A Club in Crisis? Man United’s Struggles on and off the Pitch
United is enduring a turbulent season, sitting 13th in the Premier League, 27 points behind league leaders Liverpool and 14 points adrift of the top four.
Ineos’ leadership has also faced backlash over its management decisions, including:
- Sacking Erik ten Hag in June
- Paying £10.4 million in compensation to Ten Hag
- Spending £11 million to hire Ruben Amorim as his replacement
- Parting ways with Sporting Director Dan Ashworth after just five months
Ineos Under Pressure Even Beyond Football
Manchester United is just one part of Ratcliffe’s global sports empire, which includes ownership of:
- French club Nice
- Swiss club FC Lausanne-Sport
- A stake in the Mercedes F1 team
- Ineos Grenadiers cycling team
However, Ineos itself is also facing financial pressure. The petrochemical giant recently pulled out of its sponsorship deal with New Zealand Rugby, leading to legal action from the governing body. The company referred to cost-saving measures and blamed “high energy taxes and extreme carbon taxes” in Europe.
Ineos also ended its America’s Cup sailing partnership with Ben Ainslie, marking the end of its six-year involvement in the sport.
What’s Next for Man United?
With Ratcliffe committed to reshaping Manchester United, fans and staff alike are bracing for further “difficult and unpopular decisions,” as he previously warned.
While his cost-cutting strategy may help United regain its financial footing, the club’s form on the pitch and discontent among supporters suggest that the road ahead remains 100% uncertain.
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