February 20 – The decision to sack manager Erik ten Hag, his staff and sporting director Dan Ashworth cost Manchester United £14.5 million in compensation, the club revealed when announcing their latest financial results.
Ten Hag lost his job on October 28, just three months after being handed a one-year contract extension following months of uncertainty over his future, and after an FA Cup Final win against Manchester City the previous May, which secured Europa League qualification. Ashworth left his position as sporting director in December after just five months in the role.
United have embarked on a series of cost-cutting measures, including over 200 redundancies, since Sir Jim Ratcliffe’s INEOS group completed a minority share purchase of 27.7% a year ago.
The latest financial figures highlight the importance of Champions League football to United – a competition they are unlikely to compete in next season unless Ruben Amorim’s team win this season’s Europa League.
Despite the worrying financial numbers, United chief executive Omar Berrada said that the club’s focus remains on improving the league position. Injury-ravaged United travel to Everton on Saturday in 15th position, just three places above the Premier League relegation zone.
“We recognise the challenges in improving our men’s team’s league position and we are all working hard, collectively, to achieve that. At the same time, we are pleased to have progressed to the knockout phase of the UEFA Europa League and the fifth round of the FA Cup,” Berrada said.
“Meanwhile, our women’s team is currently placed second in the Women’s Super League and has reached the quarterfinals of the FA Cup.”
Commenting on the financial results, the Manchester United Supporters Trust (MUST) claimed that a prospective increase in ticket prices would be “futile and counter-productive”.
It added in a statement: “Fans should not pay the price for a problem that starts with our crippling debt interest payments and is exacerbated by a decade or more of mismanagement.
“It’s time to freeze ticket prices and allow everyone – players, management, owners and fans – to get behind United and restore this club to where it belongs.”
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