On this week’s episode of the ‘Where’s The Money Gone?’ podcast, former Sunderland and Charlton Athletic director Charlie Methven assesses Manchester United’s financial woes - and the cost cutting approach of co-owner Sir Jim Ratcliffe.
The Red Devils are in the red, having lost £313 million over three years and co owner.Ratcliffe has been quoted as saying they would have “gone bust by Christmas” without his ruthless rationalisation programme.
Hundreds of staff have been made redundant, ticket prices are going up and the Sir Alex Ferguson’s ambassadorial role has been terminated.
United finished in their lowest ever Premier League position, 15th, and their hopes of making the Champions League were frustrated by defeat to Spurs in a dreadful Europa League final,
They’ve already committed to £89 million in spending on transfers this summer in instalments for previously signed players, putting them at risk of breaching profit and sustainability rules. All of their players are reported to be up for sale.
Meanwhile, Charlie Methven’s previous clubs, Sunderland and Charlton Athletic have both enjoyed play-off success after enduring similar financial turbulence.
He says that cost-cutting is the way forward, but that Ratcliffe could have communicated the rationale more clearly - and he warns that without good management on and off the field, United could face relegation next season.
Meanwhile, I’m wondering how Inter Miami could have qualified for the Club World Championship, despite never being US Champions. Could the presence of global superstar Lionel Messi have anything to do with it?
Listen to more episodes of ‘Where’s The Money Gone?’ here.
Share this post