Bengaluru — Manchester United will cut about 150-200 more jobs as part of an overhaul to return to profitability after five years of losses, the Premier League football club said on Monday.
The plan is in addition to 250 jobs removed in 2024, the club said.
The club has been restructuring and cutting costs since British billionaire Jim Ratcliffe took a 25% stake in 2024 and took charge of football operations to try to revive their fortunes on the pitch.
In September, the 20-time English champions reported their fifth consecutive annual loss as they missed out on the lucrative European Champions League competition.
“We have lost money for the past five consecutive years. This cannot continue,” CEO Omar Berrada said.
The restructuring plan includes an end to free lunches for staff in the Old Trafford canteen to save more than £1m a year, a source close to the club said.
Some staff will move from Old Trafford to the new training facility at Carrington near Manchester and all the club’s leadership will be based in Manchester, the source said.
Executive bonuses will be paid at a reduced rate this year and transition to a revised scheme based more firmly on the club’s football and financial performance, the source added.
The club’s charitable donations will be focused on Manchester United Foundation and Manchester United Disabled Supporters’ Association, the source said, and it is in talks with MUF about the level of its contributions.
The club will stop donations to other charitable causes, the source also said.
The foundation, which provides educational and community outreach programmes aimed at young people, raised £608,000 from season ticket holders and online donations in 2023/24, according to its website.
“At the end of this process, we will have a more lean, agile and financially sustainable football club,” Berrada said.
Reuters
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