Man UTD Financs Q & A: Ineos and Sir Jim Ratcliffe Cutting Costs Explained with Operational Profit | Football news
MAN UTD has published its quarterly accounts – and reveal the financial cost of release Erik Ten Hag, rejecting Dan Ashworth sports director Dan Ashworth and why Ineos and Sir Jim Ratcliffe reduce.
Decisions on the extension of the Ten Haga contract in the summer and then released his staff in Backro nine games in this season were united about 10.4 million pounds.
The accounts show that the united united is more than 4.1 million pounds of compensation and then shipped to bring Ashworth to the club and then fired it.
And given that the male first team that did not qualify for the Champions League football, a major decline in broadcasting revenue contributed to an operating profit of £ 27.5 million to £ 3 million.
Here, Sky Sports News Older reporter Rob Dorsett answers key questions from this financial report – and what does it mean for the Ruben amomers and the wider club …
How many a dozen haga downhill, Ashworth exit and amorim appointment cost a man utd?
The title, no doubt, is how much it cost a man to get rid of Erik Ten Haga and his bacch staff, and day Ashworth, sports director.
Ashworth is really interesting because the accounts show that in this period the united more than £ 4.1 million was compensated and then shipped to bring Ashworth to the club and then release it – and he was in place for five months. It is clear that further employment costs are in other accounting periods, but the exact amount is not listed.
It’s not good management, simple and easy. They misunderstood.
I do not think that this is a big shock that elite managers cost a lot of money when you name them and release them, but again there are questionnaires because Erik Ten Hag received an extended contract in the summer, just to release them a couple of a few months later.
One thing that is not listed on these figures is how much it costs the appointment of Ruben amomes.
We learned that these expenses were actually included in the “Amortization” section in the accounts, which means that the amount of £ 8.5 million was reported, which United had to pay for sports for his services expanded during the duration of Amorim’s two i- semi -year united contract – to Strength, £ 2.3 million a year. Another big price.
It shows how expensive it is for these huge clubs to change their managers and make major changes at the top. But it also raises serious questions about how Man UTD is currently launching.
Old Trafford chiefs made very significant changes – and these changes cost them a lot of money.
Do these figures suggest that there will be more reductions than Ratcliffe and Ineos?
The total revenue is reduced by 12 percent – this is because the broadcast revenues were reduced by 42 percent because they were not in the Champions League. This tells you that they can influence finances on the field.
Although there was an increase in commercial revenue of 18.5 percent. The club says the results represent a fundamental operational force – but they also point out the financial challenges that the club face.
Ineos and Sir Jim Ratcliffe did no secret of the fact that they were taking great restructuring, and we know that they also reduced a lot of expenses in the Man UTD to the rest of their companies.
Now another 100 jobs at Old Trafford after the first round of the cuts did 250 staff members.
What do we know about Ineos as a group and their own financial situation? Do their second sports teams suffer?
Their sponsorship contracts are reduced to the left, to the right and in the middle – there are news today Ineos are considering reducing sponsorship with Tottenham, a five -year agreement that they reached in 2022.
We know that they have already canceled a sponsorship contract with Rugbi in Novi Zealand, and Rugba in New Zealand sues them for violating the contract for that.
They ended up a long -term agreement with Ben Ainslie and his US Cup.
The Ineos Grenadiers bicycle team is looking for new investors, saying that Ineos “doesn’t want to spend more money.”
All of this is not a good look for Ineos and Sir Jim Ratcliffe right now.
Man UTD is one of the most pronounced companies in their portfolio. Clearly, they have to reduce the costs – and it is clear from these pictures how much they have to do.
What do these figures mean for Manchester United plans to renew the infrastructure and investment in the next few years?
They go forward as planned, but it is naive to think that these plans will not be strongly influenced by the club’s finances.
Omar Berrada, the CEO of Man UTD, said: “Our remodeling of the Carrington’s training complex remains on the road. We continue to work on the future of Old Trafford as part of the wider regeneration program.”
It all depends on how healthy the Manchester United finances are … so watch this space.
