Man United chiefs are ‘gaslighting’ after controversial Ratcliffe move – Borson
Manchester United have endured yet another disappointing campaign as they could be facing the prospect of a season without European football in 2025-26.
Sir Jim Ratcliffe has come under fire as he looks to cut costs at Old Trafford, having taken over the footballing operations last year.
The INEOS chief purchased a 27.7 per cent stake in the Premier League side last February after agreeing a £1.25billion deal with the Glazers.
Ratcliffe has now increased his stake in Man United to 28.9 per cent after injecting £238million into the club.
The Guardian reported on 12 February club insiders have suggested United would have run out of cash had it not been for the British billionaire’s investment.
The newspaper said Ratcliffe believes his decision to cut about 200 more jobs at Old Trafford is necessary to help the club avoid going bust.
Former Man City financial adviser Stefan Borson exclusively told Football Insider there has been some “gaslighting” from United chiefs around why they have to make cuts.
The Manchester giants sent a letter to fan groups last month warning them the club are at risk of breaking the profit and sustainability rules (PSR), with top-flight sides only permitted to make £105million of losses over a rolling three-year period.
Man United numbers driven by first-team spending
Borson insisted United’s numbers are completely driven by the success of the first team.
He told Football Insider: “None of the financial performance of the club is a surprise to INEOS despite them trying to make it out that it is.
“There is a bit of gaslighting around in terms of why they have to do what they have to do.
“The reality of Manchester United and numbers is that it’s completely driven by the first team.
“It’s driven by the first-team cost, the first-team spending in terms of transfers and the success on the pitch, particularly Champions League.
“You can fiddle around as much as you like with 100 people in catering or 200 people in the back office.
“The reality is that the financial success of the club will be dictated by what happens with the first team.”
Man United set for £27m hit in prize money
United’s latest accounts for 2023-24 revealed they generated a club-record revenue of £661.8million despite recording a net loss of £113.2million.
Although they are into the last 16 of the Europa League, Ruben Amorim’s side currently sit 15th in the Premier League table after 25 matches.
Football Insider revealed on 6 February United are set for a £27million hit in prize money following their disappointing season.
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