I’m not fan of Ineos however United fans need to just for one moment understand just how bad the situation was when they took over.
1. The Glazers gambled hugely in the last 3-4 years, the profit that the club was making under Sir Alex had dried up to such an extent that all cash reserves where depleted and the club had to use a company credit card Facility of £300m.
2. From 2015/16 season, the club tried to buy players like Di Maria, Sanchez, Pogba, Falcao, Lukaku, Ronaldo, Cavani and many more with instalments as well as cash and decided to put the players on huge wages.
3. Please open the link I’ve provided on the clubs true profit and loss over the last 14/15 years. The last time the club made a profit was 2019 and subsequently since then they have had record losses in last 4 years. The days of making £148m profit with their accounts are long gone.
They were rightly fined by UEFA last season and without Sir Jim’s $200m(£159m investment), potentially next season we could have started with a points deduction
https://www.statista.com/statistics/383903/manchester-united-profit-loss/
(It might behind a paywall but you can open free for the first time)
4. The club had no available cash, none which is why they couldn’t do nothing this January with regard to Transfers. The debt which was originally £358m in 2011/12 has now spiralled out of control with historic club Debt now at $650(£518m), the club revolving credit facility $344m(£274m) and Existing Owed $379(£301m) Transfers. In 2013 the club owed £34m in transfer amortised fees.
That total of £1.092 of debt means the club is at breaking point. There’s no point turning over £650m if you lose £400k per week!
https://www.manchestereveningnews.c...man-united-finances-debt-glazers-28038776.amp
5. Sir Jim knew that he had to operate in a very smart way, first task was to invest capital/Cash to make sure the club could operate in the same way, not fall short of PSR/FSP, his $200m investment prevents this as it prevents the club from losing more than £115 allowed over 3 years. The second reason that he allocated £120m of the $300 promised was free up the credit card facility and make sure the club could effectively have a working capital of at least £160m should they need this in the summer. His biggest task however was to remove nearly all of the Exec Directors who had overseen such a huge decline in the club on and off the field in the last 15 years, all while still trying to be the friends of the Glazers so he could take more and more control.
https://theathletic.com/5340986/2024/03/14/man-united-debt-jim-ratcliffe/
6. Before he replaced the manager, he needs a new CEO, DOF, CFO, COO, Technical Director, Recruitment Director and many others whilst at the same time streamline the 1100 employees who work for the company and show very little in achieving goals and KPI’s Set. The most important new recruit to Sir Jim’s new Board and Senior Management structure of the club is not as most people believe Omar Berrada, Jason Wilcox or even Dan Asworth no it’s the recent bombshell news that Roger Bell will take over from Cliff Baty( A Glazer Man). This means that Sir Jim with only 27.7% has managed to be in a position where he really is calling all the shots. The CFO of a club like United needs to be best in class and here you have a lifelong Man United Fan in Roger Bell who is used to producing balance sheets with a profit and quickly turning around to Acting CEO Jean Claude Blanc, David Brailsford and Sir Jim and providing areas within the club that are not working, this is why the staff are now being ordered back to offices, company credit cards stopped unless good reason and there will be huge redundancies applied, so excuse me, I’m no fan of ETH either but how on earth would any fan expect Sir Jim and David Brailsford to have time to sack ETH when there is a huge financial compensation outlay to consider which will have a profound effect on the clubs ability to spend under PSR/FSP in the summer.
Summary
At this exact moment, Sir Jim and Ineos are playing the waiting game, they have probably considered that he needs to be sacked, however they will allow, Berada, Wilcox and Ashworth to have the final decision. They may have decided that as long as he gets Europa League Football, either by wining the FA Cup or Coming 6th, they may give him the first 10 PL games, simply because they probably did t realise just how bad things were behind the scenes, no fitness coach, poor medical department and many other issues which did not help him in achieving success.
Sacking ETH might not be necessary if another team like Bayern want him which would mean no compensation would be required, however should his team fail to provide any evidence that they have the ability to perform for him in the last 5 games, then he’s gone and so to is a marquee player like Bruno or Rashford because that £60-70m will be necessary to back the new coach.
Let’s be clear here, he has no more lives left and probably needs to go unbeaten to the end of the season with at least 3 or 4 victories. Even if he won the FA Cup and Came 6th, it wouldn’t surprise me if he was replaced as early as June 15th
1. The Glazers gambled hugely in the last 3-4 years, the profit that the club was making under Sir Alex had dried up to such an extent that all cash reserves where depleted and the club had to use a company credit card Facility of £300m.
2. From 2015/16 season, the club tried to buy players like Di Maria, Sanchez, Pogba, Falcao, Lukaku, Ronaldo, Cavani and many more with instalments as well as cash and decided to put the players on huge wages.
3. Please open the link I’ve provided on the clubs true profit and loss over the last 14/15 years. The last time the club made a profit was 2019 and subsequently since then they have had record losses in last 4 years. The days of making £148m profit with their accounts are long gone.
They were rightly fined by UEFA last season and without Sir Jim’s $200m(£159m investment), potentially next season we could have started with a points deduction
https://www.statista.com/statistics/383903/manchester-united-profit-loss/
(It might behind a paywall but you can open free for the first time)
4. The club had no available cash, none which is why they couldn’t do nothing this January with regard to Transfers. The debt which was originally £358m in 2011/12 has now spiralled out of control with historic club Debt now at $650(£518m), the club revolving credit facility $344m(£274m) and Existing Owed $379(£301m) Transfers. In 2013 the club owed £34m in transfer amortised fees.
That total of £1.092 of debt means the club is at breaking point. There’s no point turning over £650m if you lose £400k per week!
https://www.manchestereveningnews.c...man-united-finances-debt-glazers-28038776.amp
5. Sir Jim knew that he had to operate in a very smart way, first task was to invest capital/Cash to make sure the club could operate in the same way, not fall short of PSR/FSP, his $200m investment prevents this as it prevents the club from losing more than £115 allowed over 3 years. The second reason that he allocated £120m of the $300 promised was free up the credit card facility and make sure the club could effectively have a working capital of at least £160m should they need this in the summer. His biggest task however was to remove nearly all of the Exec Directors who had overseen such a huge decline in the club on and off the field in the last 15 years, all while still trying to be the friends of the Glazers so he could take more and more control.
https://theathletic.com/5340986/2024/03/14/man-united-debt-jim-ratcliffe/
6. Before he replaced the manager, he needs a new CEO, DOF, CFO, COO, Technical Director, Recruitment Director and many others whilst at the same time streamline the 1100 employees who work for the company and show very little in achieving goals and KPI’s Set. The most important new recruit to Sir Jim’s new Board and Senior Management structure of the club is not as most people believe Omar Berrada, Jason Wilcox or even Dan Asworth no it’s the recent bombshell news that Roger Bell will take over from Cliff Baty( A Glazer Man). This means that Sir Jim with only 27.7% has managed to be in a position where he really is calling all the shots. The CFO of a club like United needs to be best in class and here you have a lifelong Man United Fan in Roger Bell who is used to producing balance sheets with a profit and quickly turning around to Acting CEO Jean Claude Blanc, David Brailsford and Sir Jim and providing areas within the club that are not working, this is why the staff are now being ordered back to offices, company credit cards stopped unless good reason and there will be huge redundancies applied, so excuse me, I’m no fan of ETH either but how on earth would any fan expect Sir Jim and David Brailsford to have time to sack ETH when there is a huge financial compensation outlay to consider which will have a profound effect on the clubs ability to spend under PSR/FSP in the summer.
Summary
At this exact moment, Sir Jim and Ineos are playing the waiting game, they have probably considered that he needs to be sacked, however they will allow, Berada, Wilcox and Ashworth to have the final decision. They may have decided that as long as he gets Europa League Football, either by wining the FA Cup or Coming 6th, they may give him the first 10 PL games, simply because they probably did t realise just how bad things were behind the scenes, no fitness coach, poor medical department and many other issues which did not help him in achieving success.
Sacking ETH might not be necessary if another team like Bayern want him which would mean no compensation would be required, however should his team fail to provide any evidence that they have the ability to perform for him in the last 5 games, then he’s gone and so to is a marquee player like Bruno or Rashford because that £60-70m will be necessary to back the new coach.
Let’s be clear here, he has no more lives left and probably needs to go unbeaten to the end of the season with at least 3 or 4 victories. Even if he won the FA Cup and Came 6th, it wouldn’t surprise me if he was replaced as early as June 15th
