INEOS owner Sir Jim Ratcliffe Manchester United
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Manchester United co-owner Sir Jim Ratcliffe has come out in recent interviews announcing that he and his INEOS firm have recently saved the club.
Ratcliffe has carried out a massive range of cost-cutting measures including mass redundancies, scrapping concessions on ticket prices, as well as axing contracts such as Sir Alex Ferguson’s role as global ambassador.
Most of these schemes have been met with controversy, with The 1958 supporters group recently protesting against The Glazers’ ownership of the club and Ratcliffe’s measures being a result of their financial mismanagement.
However, the INEOS owner has now come out and said that without them, Manchester United was on course to go bankrupt.
Speaking on NBC Sports, David Ornstein discussed Ratcliffe’s comments, as the claim was made that United would be bust by the end of 2025.
It was explained that United would have “run out of cash by Christmas” after seven years worth of financial losses.
Ornstein highlighted how the club still have payments yet to be fulfilled for previous signings such as Casemiro, Rasmus Hojlund and Jadon Sancho.
However, they are hopeful of more signings in the summer if they can make sales.
INEOS now believe that the hard financial decisions that have had to be made off the pitch, will in time make them successful on the pitch once more, despite the controversy they’ve caused.
Interestingly Ratcliffe also spoke of Ruben Amorim as the club’s manager, backing him completely and saying “they are building with him” expecting him to be in the position for the foreseeable future.
Alongside these claims, news is expected to break soon of developments with United’s home ground, with the expectation that a new stadium will be built in the form of a 100,000 seater “Wembley of the North”.
However, the biggest admission is the accepting of and apologising for mistakes at the club. Namely, these came as the extension of Erik ten Hag’s contract in the summer and the appointment and sacking of Dan Ashworth.
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