It is estimated United saved around £250,000 by cancelling the Christmas function, but those at the club say the call was made in light of so many people losing their jobs, and celebrating in those circumstances would have been wrong, rather than it being a financial calculation.
---
In March, Ratcliffe had appointed Interpath Advisory, a corporate restructuring firm, to delve into the finances of a club that had recorded losses of £144.2m in the two campaigns prior.
One of the findings Ratcliffe felt pertinent was on the spending of the employees and directors when on trips abroad. A receipt from a Las Vegas nightclub, from United’s pre-season tour, was recorded at more than $3,000, charged to a company card. It was not the only one from that date. On other occasions, members of the commercial team were able to get chauffeurs, five-star hotels, first-class flights, and $100 dinners per night, such as at Nobu Miami, while trying to complete deals.
Staff being able to let their hair down when away, or wine and dine clients, was seen by the Glazers as a fair expense and the club’s sponsorship business was industry-leading, but Ratcliffe viewed it differently. He withdrew corporate credit cards and enforced much tighter spending, to the point where staff now have to plot train journeys using the split-ticket mechanism for lower-cost fares.
There's been stories after the last financial reports that United are very close to the PSR limit, hence the massive cost cutting and being willing to sell Rashford.
