INEOS owner Sir Jim Ratcliffe Manchester United
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As if this week wasn’t bad enough for Manchester United, having lost to Tottenham Hotspur in the Europa League final, ruling out European football next season, things have gotten worse for the club’s staff.
Alongside the loss of Champions League football, comes missing out on £140 million with £80 million in UEFA payments, £22 million on increased gate revenue through more home games, and £25 million less in Premier League merit payments, not to mention a £10 million fine from Adidas.
Going into the game, United were the only undefeated club in any European competition, however they couldn’t deliver on the night, making it the fourth time they’ve lost to Spurs this season alone.
Naturally the loss and its implications have been devastating for fans and club staff alike, however no sensitivities have been made with regards to the club’s next steps.
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Manchester United start second wave of redundancies
The Daily Mail has reported that only hours after the devastating final result, the United hierarchy started the inevitable process of formalising 200 redundancies by telling staff they’re losing their jobs.
The 200 staff set for the cut are being told this week whether they are leaving the club in the latest cost-cutting scheme from Sir Jim Ratcliffe and his INEOS management.
Whilst it’s not known if they’ll be further cuts after this second round of redundancies, but it’s hard to believe INEOS will be stopping any time soon.
United were already facing significant financial struggles, losing £40 million in the third quarter of the last financial year, however this new blow is catastrophic for the club.
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