Man United staff blame lay-offs on ‘botched’ major INEOS moves
INEOS’ “botched decision-making” is the reason behind the latest round of Man United lay-offs according to club staff, reports The Athletic.
Part-owner Jim Ratcliffe made 250 members of Man United’s staff redundant in the summer, in a highly controversial decision.
The layoffs landed United a saving of only around £10million annually, according to finance expert Stefan Borson.
In a new report from The Athletic, it has been revealed that Ratcliffe is continuing his cost-cutting measures, by following up the summer cuts with another 100 United staff set to be made redundant.
The move comes after it was announced United have now posted five consecutive years of losses, amounting to a net loss of £370million in that five year stretch.
However, Ratcliffe’s decision to layoff more United employees has not gone down well, with staff members speaking to The Athletic anonymously, saying they believed that botched INEOS decision-making that has left ordinary workers under threat of unemployment.
The decision to fire Dan Ashworth cost Man United £10million, and Erik ten Hag’s sacking cost the club £10.4million.
Then there is the £200million outlay in the summer, on Matthijs de Ligt, Joshua Zirkzee, Lenny Yoro and Manuel Ugarte. Performance from those players aside, the decision to spend that amount of money on players when the club is struggling financially is questionable.
The news also comes on the same day (11 February), that it was reported by The Telegraph, that New Zealand Rugby (NZR) have launched legal action against INEOS over an alleged sponsorship breach.
NZR have told the publication that INEOS had failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit a six-year agreement that was announced in July 2021, and began in 2022.
INEOS and Jim Ratcliffe look to cash-in on Man United academy graduates to survive PSR
Football Insider Verdict
Ratcliffe’s takeover in February 2024 was meant to herald a new beginning for Man United, with the British businessman waking the sleeping giant and leading them back to their glory days.
Instead, the club are sat 13th in the Premier League and looking like it was take a miraculous cup victory to guarantee European football next season.
The Red Devils are also onto their second manager of the season, and the most noteworthy aspect of Ruben Amorim’s spell in charge has been Marcus Rashford’s loan move to Aston Villa, following his ousting from the team by the Portuguese boss.
Instead of jousting with Europe’s elite for trophies and transfers, this season has seen the club flirt with the idea of selling their academy products in order to be compliant with profit and sustainability rules (PSR).
Kobbie Mainoo has been linked with a move to Chelsea, and Alejandro Garnacho has been linked with a move to Napoli. Gone are the days of the class of ’92, when those coming through the youth ranks were untouchable by other clubs, it now seems.
Now, with the club in a perilous financial position, seemingly of their own doing, the club look content using their heralded academy as a way to fund their summer spending sprees.
Jim Ratcliffe destroys core of Man United with cuts and price increases
It really is a grim state of affairs, when a football club with the resources of United’s burdens the ordinary staff and fans with their financial mismanagement.
Ratcliffe announced an increase on ticket prices in January, that saw no concessions for children or pensioners.
Man United fans responded by calling out the club for the price increases, but it seemingly fell on deaf ears.
With this next round of layoffs, the part-owner, and billionaire, continues to chisel away at the core support of the club.