Club ownership | Senior management team talk

[FlawlessThaw]

Do you remember how many on here were against Qatari ownership?

It’s a bit like with Brexit, didn’t really think too much about the impact of the club of the alternative even if it wasn’t a perfect solution. Someone even said the women’s team would be better off with Ratcliffe

 

[UnitedSofa]

Anyone expecting anything to get done in the Jan window is wishful thinking. I don't think we've got any money AT ALL

We have money, we have more than enough money. It’s PSR that’s making it difficult

 

[Fridge chutney]

For all you people who didn’t want Jassim because of questionable things that happen in Qatar, are you happy?

Now your local people are suffering. Loss of jobs, less charity, worse football team.

INEOS are literally crumbling this club to the ground to a point there won’t be a club anymore. But the morale police will be happy.

Don't pretend you care about people suffering if you promote being owned by Qatar.

 

[FlawlessThaw]

We have money, we have more than enough money. It’s PSR that’s making it difficult

Given all the off field cuts we’re making, can’t even be certain of us having money surely. Unless cutting Doris the tea lady’s £100 bonus has an impact on PSR

 

[NotChatGPT]

Does anyone have an decent overview of the cuts that have been made, or is it only little drops that create a lot of media noise ala the stuff with Fergie.

It would be a bit strange to hand out bonuses the same year that the club has laid people off. It’s a natural consequence of the situation we’re in, but maybe thats just me. Slashing costs are never easy.

 

[Jacob]

When are we replacing Ashworth?

 

[UnitedSofa]

Given all the off field cuts we’re making, can’t even be certain of us having money surely. Unless cutting Doris the tea lady’s £100 bonus has an impact on PSR

I think they’re cost cutting to make us more sustainable on the operating costs sides of things. Personally, not sure that cutting steward bonuses and charity payments is the right way to go about it though

 

[NotChatGPT]

I think they’re cost cutting to make us more sustainable on the operating costs sides of things. Personally, not sure that cutting steward bonuses and charity payments is the right way to go about it though

Is it the right way to maintain costs like bonuses while people are being laid off to save costs?

 

[RedRocket9908]

I think they’re cost cutting to make us more sustainable on the operating costs sides of things. Personally, not sure that cutting steward bonuses and charity payments is the right way to go about it though

We shouldnt be paying anyone a bonus when we are making a loss every year, bonuses should only be paid when the company is making a profit the same as dividends.

 

[Jacob]

Happy with the cost cutting. Sends a message if anything. Poor form and culture has consequences.

 

[TheReligion]

Sad that so many of you are being played by the media.

 

[neon_badger]

I think they’re cost cutting to make us more sustainable on the operating costs sides of things. Personally, not sure that cutting steward bonuses and charity payments is the right way to go about it though

I'm not sure the initial cost cutting is even working, I can offer you in an insight into the department at OT that I worked in which made some staff redundant. The staff in question received redundancy pay in line with length of service, they were also offered future employment as casual staff on an hourly rate which most took, so essentially a fire and re-hire program. The department is now massively underperforming because they let experienced key staff go, ironically the staff they let go are financially better off with the clubs money. It's only one department but it demonstrates an arrogant lack of understanding that's resulted in an own goal.

 

[UnitedSofa]

Is it the right way to maintain costs like bonuses while people are being laid off to save costs?

I mean that’s essentially what I’ve said…right? I don’t believe what they’re doing is the right thing to do. Not sure what you’re getting at here?

 

[UnitedSofa]

We shouldnt be paying anyone a bonus when we are making a loss every year, bonuses should only be paid when the company is making a profit the same as dividends.

It was like a £100 bonus or something, like 10p to you and I to a club like United

 

[Frosty]

We shouldnt be paying anyone a bonus when we are making a loss every year, bonuses should only be paid when the company is making a profit the same as dividends.

I guess that we should reconsider goal and appearance and trophy bonuses too then?

 

[Frosty]

It was like a £100 bonus or something, like 10p to you and I to a club like United

Absolutely. If we were in an office or working for the government the salary ranges between the lowest and highest paid would usually be in the tens of thousands per year. I've been working in places where employees agreed to take a pay cut to save jobs.

With top level football clubs the salary gaps are huge. All these savings could be dwarfed by selling a decent youth player, let alone releasing a player like Heaton at the end of the season when their contract expires.

 

[Lyng]

Sad that so many of you are being played by the media.

Oh so now that the media are not singing Jimmys praises they are trying to play us?

 

[RedRocket9908]

I guess that we should reconsider goal and appearance and trophy bonuses too then?

Those are different as they are contractually obliged bonuses

 

[MaMa given red]

With the current PSR rules, we have to accept out medicine somewhat and realise we've invested awfully for a long long time!

I'd be content with moving on most of our current squad of players knowing full well that we aren't going anywhere in the Premier league for at least 18 months

Let's give Amorim and Ineos time to rid the club of so many players that have held us back and seriously reassess things in 2026

There's no quick fix to sorting us out but I feel like we are moving in the right direction.

 

[Dazzmondo]

Amazing that there are actually people in here still defending Ratcliffe and INEOS

 

[AndrewMac]

Amazing that there are actually people in here still defending Ratcliffe and INEOS

It is indeed baffling. Can't stand Ratcliffe.

 

[Redjazz]

That’s the thing, based on what we know these decisions are Glazers decisions, yet INEOS are catching the flack. The fact the media don’t even mention the Glazers says it all - their playing our fanbase like fiddles.

I haven’t been a fan of these decisions made, but it just seems ridiculous at this stage that INEOS are being blamed when we’ve never been told that they have the authority to make these decisions. The opposite, in fact. I’m intrigued as to where that £40m figure is coming from as the cost cutting exercise we know about isn’t anywhere near that figure. But it almost makes a bit more sense if that’s the sort of numbers we’re talking about, though I’d rather save a bit less money and still keep some of the things they’ve got rid of.

I just feel like the press are trying to play us against the club to cause unrest, and we’re allowing it to happen. I don’t agree with any of the decisions, but they’re so ludicrous that there has to be more than meets the eye with it all. I’m guessing we’re just in a far worse financial state than we realise.

The 40m (no breakdown) is from Q4 2024 earnings release. It states

"Beginning in the third quarter of fiscal 2024, the club commenced a business transformation plan to unlock operational efficiency with the ultimate goal of improving the club’s financial sustainability and maximize the resources available to improve football operations. These initiatives included installing a new executive leadership team covering both the business and sporting side, streamlining the organizational structure and, following a thorough cost review by Interpath Advisory, the club implemented a significant cost rationalization program. In January 2024, the club announced the appointment of new CEO Omar Berrada and a new football leadership team was installed under his leadership, creating a new reporting structure with seasoned football leaders, Dan Ashworth and Jason Wilcox. Additional club executive leadership was also appointed in April, and the new non-football structure will be supported by a more streamlined organization. Beginning in March 2024, the club engaged Interpath Advisory for a thorough club-wide cost review which identified substantial cost-savings. As a result of this change in strategy and with the intention of creating a leaner, agile and more sustainable structure, the club subsequently announced an employee redundancy program in July 2024, which was concluded at the end of August 2024 and resulted in the rationalization of the club’s employee base by approximately 250 roles across all departments. In total, the club expects to realize annualized cost savings of approximately £40 million to £45 million, before implementation costs of £10 million. Due to timing and other contractual obligations, the club expects to realize these savings over fiscal years 2025 and 2026."

As for the bolded part, I don't see it from the accounts. Our position is no better or worse than it was pre INEOS.
We are in a bind because we probably spend around twice what we could really afford on players over the last 5+ years (and what we could afford wasn't even insignificant to begin with).
The legacy of the overspend is a huge annual amortization charge that hurts ongoing profitability and our standing with the various profitability tests, and a poor cash position propped up by overuse of corporate credit cards (230m owed as at 30/9/2024) and a policy of end loading player acquisitions (413m owed to other clubs as at 30/9/2024). Those figures, by the way, are post INEOS and the summer splurge okayed by them. Our financial position is essentially no different to what is was pre INEOS and that shouldn't surprise since they didn't bring much to the party (around 200m) and the equivalent has already been splurged on supporting a manger they didn't trust.
The point is that INEOS didn't come with a rescue package and cost cutting was always on the cards.

 

[Andy_Cole]

Don't pretend you care about people suffering if you promote being owned by Qatar.

Mate we live in a country who do far worse things than Qatar.

Point is we could’ve taken advantage of their money to benefit the club, the local area, the employees, everything locally to do with the club. Assume you’re an armchair fan who gives no fecks about Manchester.

 

[Gavinb33]

Companies are cnuts the bigger they are the bigger cnuts they are, I used to work for a pretty decent sized company in the industry I work in and they were sold to a billion pound company the 1st thing they did was send 50% of the operational staff off shore to India.

So it's no surprise what Ineos are doing and how they are going about it, doesn't make it right when Doris the tea lady and Frank the steward are getting hit in the pocket when Casemiro and Rashford are making 300k+ a week

 

[Coops73]

Good lord it’s like lord of the fecking flies in here and you’ll only start turning on each other ten fold after the next couple of games.

 

[Matt851]

Mate we live in a country who do far worse things than Qatar.

Point is we could’ve taken advantage of their money to benefit the club, the local area, the employees, everything locally to do with the club. Assume you’re an armchair fan who gives no fecks about Manchester.

What a dumb statement

 

[Eddy_JukeZ]

Happy with the cost cutting. Sends a message if anything. Poor form and culture has consequences.

Don't think the staff members have anything to do with on-field performances.

The cost cutting is setting a bad culture.

 

[Someone]

I honestly dont understand the logic in a club of our size cutting the skin around the pie instead of sticking the fork straight into it. The cost cutting they're doing makes so little difference, it seems to be coming more from a place of "these people shouldnt be making it" not "we cant afford to pay them this." Its a horribly mean spirited regime they are running, where we stomp to the little guy first before we get around to people who really bleed the club dry.

It's horrible, and it's really disappointing seeing some people defending this. We're becoming a terrible entity on and off the pitch.

 

[Skills]

Happy with the cost cutting. Sends a message if anything. Poor form and culture has consequences.

And this is why I will have zero sympathy for our fans when they'll hike the ticket prices.

If we're really commuting to a clear out, let's go all the way down to the fans.

 

[Plant0x84]

When are we replacing Ashworth?

We already did. He’s called Wilcox.

 

[JediSith]

It’s an utterly pathetic approach. He’s looking at it like a business after a takeover rather than a football club.

I actually think that INEOS will end up being worse than the Glazers.

One thing I never bought was the whole local lad who loves the club.

If he’s worth 18-25b, I know most of it measured by his INEOS stake, but still at his age he could afford to pull out £2.5b for the club.

 

[Fridge chutney]

Mate we live in a country who do far worse things than Qatar.

Point is we could’ve taken advantage of their money to benefit the club, the local area, the employees, everything locally to do with the club. Assume you’re an armchair fan who gives no fecks about Manchester.

Predictably embarrassing and clueless post.

 

[The Mitcher]

Predictably embarrassing and clueless post.

Imagine saying this country does worse things than Qatar?

 

[Plant0x84]

One thing I never bought was the whole local lad who loves the club.

If he’s worth 18-25b, I know most of it measured by his INEOS stake, but still at his age he could afford to pull out £2.5b for the club.

He literally is, but ok you do you.

What is the £2.5bn for? I don’t understand your point. He was happy to spent 4/5bn to buy the club outright but it was never for sale in that way.

 

[pocco]

The terrible finacial position we are in is published for all to see

Maybe it’s my own ignorance then but do the fans and media really believe it/understand how bad it is, if it’s that bad? It feels like every year we hear that we’re skint and yet we still splash more cash than anyone, so maybe we actually are in a bad place now and this is the outcome. Although @Redjazz post below maybe paints a clearer picture.

The 40m (no breakdown) is from Q4 2024 earnings release. It states

"Beginning in the third quarter of fiscal 2024, the club commenced a business transformation plan to unlock operational efficiency with the ultimate goal of improving the club’s financial sustainability and maximize the resources available to improve football operations. These initiatives included installing a new executive leadership team covering both the business and sporting side, streamlining the organizational structure and, following a thorough cost review by Interpath Advisory, the club implemented a significant cost rationalization program. In January 2024, the club announced the appointment of new CEO Omar Berrada and a new football leadership team was installed under his leadership, creating a new reporting structure with seasoned football leaders, Dan Ashworth and Jason Wilcox. Additional club executive leadership was also appointed in April, and the new non-football structure will be supported by a more streamlined organization. Beginning in March 2024, the club engaged Interpath Advisory for a thorough club-wide cost review which identified substantial cost-savings. As a result of this change in strategy and with the intention of creating a leaner, agile and more sustainable structure, the club subsequently announced an employee redundancy program in July 2024, which was concluded at the end of August 2024 and resulted in the rationalization of the club’s employee base by approximately 250 roles across all departments. In total, the club expects to realize annualized cost savings of approximately £40 million to £45 million, before implementation costs of £10 million. Due to timing and other contractual obligations, the club expects to realize these savings over fiscal years 2025 and 2026."

As for the bolded part, I don't see it from the accounts. Our position is no better or worse than it was pre INEOS.
We are in a bind because we probably spend around twice what we could really afford on players over the last 5+ years (and what we could afford wasn't even insignificant to begin with).
The legacy of the overspend is a huge annual amortization charge that hurts ongoing profitability and our standing with the various profitability tests, and a poor cash position propped up by overuse of corporate credit cards (230m owed as at 30/9/2024) and a policy of end loading player acquisitions (413m owed to other clubs as at 30/9/2024). Those figures, by the way, are post INEOS and the summer splurge okayed by them. Our financial position is essentially no different to what is was pre INEOS and that shouldn't surprise since they didn't bring much to the party (around 200m) and the equivalent has already been splurged on supporting a manger they didn't trust.
The point is that INEOS didn't come with a rescue package and cost cutting was always on the cards.

An interesting and eye opening read really. One point I wasn’t aware of is that we actually have employed a cost cutting agency to identify savings. I think I’ve joked in the past that it felt like INEOS were acting like one themselves, but it looks like these savings could be the work of an outside agency. Obviously the club have signed off on it, but we don’t know if that’s collectively, INEOS or the Glazers, do we? This just adds to my belief that the media are pinning this on INEOS to try to cause unrest in our fanbase by trying to turn us on them too. They’ve obviously seen the reaction to previous stories where they were blamed and are going to run with this until we self destruct.

 

[Insanity]

This is pathetic, if not downright cruel.

The "Local Lad" and his best in class team was brought in to improve the football side of things, and so far:

- They gave a pay raise and a bumper contract extension to a player on the decline who had plenty on time on his current contract.
- Gave extension to a failing manager and then sacked him 2 months into the season forcing them into a huge compensation package.
- Likely paid the remaining amount on the contracts of Ruud and Hake.
- Recruited the likes of Zirkzee and de Ligt in the summer. One of them barely looks like a footballer and the other one doesn't justify that investment in fee and wages.
- Chased Ashworth for months, paid a compensation to Newcastle to eventually get him, then proceeded to sack him within months owing him more money.
- Likely paid money to Sporting to get Amo and his team released from them mid-season.
- Have the team in 14th place on the table at almost the half way point.

After all that profligacy they have decided to cut costs by doing the pettiest of things on the operations side. If the idiom 'Penny wise pound foolish' ever fit a situation, its this one.

 

[NewGlory]

Predictably embarrassing and clueless post.

Didn't find anything emberassing or clueless about what @Andy_Cole said. Actually he talks truth

 

[Insanity]

Imagine saying this country does worse things than Qatar?

Even if we forget all the history and just take into account the wars and genocides each side has funded & supported in this century and nothing else, you'd be surprised by which side the balance of scale tilts towards.

 

[JediSith]

He literally is, but ok you do you.

What is the £2.5bn for? I don’t understand your point. He was happy to spent 4/5bn to buy the club outright but it was never for sale in that way.

From the area yes. But what evidence from his past do we have that he’s a huge passionate Man Utd fan?

He tried to buy a stake in Barca, he was a Chelsea season ticket holder, tried to buy Chelsea.

Did he ever go to OT and watch any matches in the years leading up to his takeover ?


With a worth of 18 to 25b he’s really not as skint as people are making out. He could invest 1-2b into the stadium. Thats my opinion anyways.

As part owners of United, I think INEOS have been 50/50. Most the gaffs have been pr/arrogance. Time will tell.

I see INEOS as no different to being owned by a competent US investment fund. Purely business but they know on the pitch success will drive profits.

 

[TsuWave]

For all you people who didn’t want Jassim because of questionable things that happen in Qatar, are you happy?

Now your local people are suffering. Loss of jobs, less charity, worse football team.

INEOS are literally crumbling this club to the ground to a point there won’t be a club anymore. But the morale police will be happy.

Wasn’t reported that the Qatar/Jassim thing wasn’t a real thing - as in - no proof of funds was ever provided or something? I remember seeing articles about that. Although I’m also not too sure how a “bid” gets that far/late stage without it being legit, seems weird all around.

Edit - just googled and found this:

https://www.skysports.com/amp/footb...vide-proof-of-funds-when-he-tried-to-buy-club