Sir Jim Ratcliffe is said to be set to “reduce” the funding received by the Manchester United Foundation in 2025 as part of his strict cost-cutting regime, according to a report.
Minority stakeholders have ruled with a ruthless scythe since investing more than £1.2bn in the club last December. While his company is INEOS only Owns less than 29% Of the total shares, Ratcliffe's investment with the highest market cap gave him control over sporting decisions.
This influence largely took the form of much-criticized money-saving schemes, which were quickly undermined by much more costly mistakes. Hundreds of non-playing staff lost their jobs the same summer the manager took over Erik ten Hag Keep it. The Dutch coach was then sacked in September, making way for the signing of Ruben Amorim – all on a short-term basis. The total cost is more than £21 million.
The Manchester United Foundation is now the latest side of the club to be considered an unnecessary expenditure by Ratcliffe, according to Ratcliffe Sky News. The Premier League giants invested around £1m through its charitable arm last year, but a “significant portion” of the club's support for the foundation is set to be cancelled.
While some insiders… united While insisting the club will still play a “significant” charitable role, this is not the first charitable project Ratcliffe is believed to have undermined.
Just one day before news about the foundation broke, It has been reported That United secretly canceled payments to a charity supporting former club players. Ratcliffe and the INEOS project were subsequently established Accused of “cowardice” By a United fan group.
Ticket prices were raised and staff Christmas parties were cancelled, while sporting director Dan Ashworth – five months after completing a five-month gardening sabbatical – was sacked. At a cost of about 5 million pounds sterling.
Ratcliffe He defended his extremism He approached earlier this month by saying: “We have to make some tough, unpopular decisions. If you shy away from making tough decisions, nothing much will change.”
