- Club made 250 members of staff redundant in summer
- Total debt rises to £714m after £200m transfer spend
Manchester United spent £8.6m on redundancies in the first quarter of the fiscal year due to Sir Jim Ratcliffe’s drive to reduce the club workforce from around 1,000 by 250, the club’s latest accounts show. Ratcliffe, the club’s largest minority shareholder, began pruning the 250 jobs in July, a decision aimed at cutting United costs. Most of those left in the summer or autumn. The first quarter fiscal 2025 results for the period ending 30 September 2024 may also take in related fees for auditors and other payments.
A statement in the accounts said: “Exceptional items for the quarter were a cost of £8.6m. This comprises costs incurred in relation to the restructuring of the Group’s operations, including the redundancy scheme implemented in the first quarter of financial year 2025. Exceptional items in the prior year quarter were £nil.”
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Source link : https://www.theguardian.com/football/2024/nov/26/manchester-united-spent-8m-sacking-staff-in-jim-ratcliffe-cost-cutting-drive
Author : Jamie Jackson
Publish date : 2024-11-26 15:04:04
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