Manchester United partial sale completed: Sir Jim era

[Bringer of Jollity]

Of course, the "but the Glazers" defense

 

[Savant]

 

[hatterson]

This is a guy who is panicking that he's spending more money than he's earning but instead of getting rid of his new Porsche or stopping going out to a 5 star steakhouse twice a week instead decides that he needs to trim his $7.99/month netflix subscription.

 

[Ceremony]

That'll fix everything. Another great decision from Sir Jim!

 

[Ceremony]

Don't worry there's some more good news to distract from the free fruit

Man Utd redundancies: Up to 200 staff to be made redundant

After 250 members of staff were made redundant last year, Manchester United announce up to 200 more redundancies to "return the club to profitability".

www.bbc.co.uk

 

[luiginb]

Don't worry there's some more good news to distract from the free fruit

Man Utd redundancies: Up to 200 staff to be made redundant

After 250 members of staff were made redundant last year, Manchester United announce up to 200 more redundancies to "return the club to profitability".

www.bbc.co.uk

And I thought Barcelona's levers was bad ...

 

[Jussi]

And I thought Barcelona's levers was bad ...

These were the figures last summer for other clubs staff (per Athletic):

Arsenal 649, Chelsea 788 and City 566. United almost 1200. After the cuts, United would be around Arsenal's level.

There's a RedCafe post explaining how much all these cost measures could save and it's around £22 million per year, about 25% of the annual losses of around £100 million.

No one can force the Glazers to sell the whole club, as we saw over two years ago so this is the only way to stop the club from going under. And before anyone tries to say "cut the players wages", they tried during Covid. United were among the few, if not the only one, to say no. Even Liverpool players agreed to it.

This is the state the Glazers have put the club in.

This is a guy who is panicking that he's spending more money than he's earning but instead of getting rid of his new Porsche or stopping going out to a 5 star steakhouse twice a week instead decides that he needs to trim his $7.99/month netflix subscription.

New analysis of #mufc’s financial results by @MU_ST shows that debt interest payments will soar to £50m-a-year in 2 years while total transfer debt is up to £391m - a rise of £52m on a year ago. [@ChrisWheelerDM]

 

[HeHateMeFrisbee]

What a mess!

 

[hatterson]

These were the figures last summer for other clubs staff (per Athletic):

Arsenal 649, Chelsea 788 and City 566. United almost 1200. After the cuts, United would be around Arsenal's level.

There's a RedCafe post explaining how much all these cost measures could save and it's around £22 million per year, about 25% of the annual losses of around £100 million.

No one can force the Glazers to sell the whole club, as we saw over two years ago so this is the only way to stop the club from going under. And before anyone tries to say "cut the players wages", they tried during Covid. United were among the few, if not the only one, to say no. Even Liverpool players agreed to it.

This is the state the Glazers have put the club in.

My post was about closing the staff canteen not about reducing head count.

 

[S E P H]

These were the figures last summer for other clubs staff (per Athletic):

Arsenal 649, Chelsea 788 and City 566. United almost 1200. After the cuts, United would be around Arsenal's level.

There's a RedCafe post explaining how much all these cost measures could save and it's around £22 million per year, about 25% of the annual losses of around £100 million.

No one can force the Glazers to sell the whole club, as we saw over two years ago so this is the only way to stop the club from going under. And before anyone tries to say "cut the players wages", they tried during Covid. United were among the few, if not the only one, to say no. Even Liverpool players agreed to it.

This is the state the Glazers have put the club in.

But 200 people are still getting axed and will have to find new jobs...

 

[Jussi]

But 200 people are still getting axed and will have to find new jobs...

A lot of people all over the world are getting axed. I'm fully unemployed myself since the middle of November (I was almost two years on part time supported salary, meaning the goverment covered 70% of my wage to my home town), because our government is shit.

 

[gary69]

Don't really understand why Ratcliffe got involved with Man Utd, seems like a bad deal, especially if he can't get full control of the club. Maybe he really wanted to be involved in a top club and Utd was the only one willing to take him along, after his failed offer for Chelsea.

 

[Ceremony]

Don't really understand why Ratcliffe got involved with Man Utd, seems like a bad deal, especially if he can't get full control of the club. Maybe he raelly wanted to be involved in a top club and Utd was the only one willing to take him along, after his failed offer for Chelsea.

This is a symptom of someone having so much money they get bored of having so much money and start lighting it on fire, mistakenly believing their 'expertise' will work in an industry completely alien to any that they've ever succeeded in before. Most of Ratcliffe's success can be attributed to asset stripping for his own benefit so this really isn't surprising.

 

[Bringer of Jollity]

This is a symptom of someone having so much money they get bored of having so much money and start lighting it on fire, mistakenly believing their 'expertise' will work in an industry completely alien to any that they've ever succeeded in before. Most of Ratcliffe's success can be attributed to asset stripping for his own benefit so this really isn't surprising.

Asset stripping and exploiting the planet's natural resources...but at least they're not state-owned, amirite?

 

[Ceremony]

Asset stripping and exploiting the planet's natural resources...but at least they're not state-owned, amirite?

At least he's not the Glazers!

 

[Jussi]

This is a symptom of someone having so much money they get bored of having so much money and start lighting it on fire, mistakenly believing their 'expertise' will work in an industry completely alien to any that they've ever succeeded in before. Most of Ratcliffe's success can be attributed to asset stripping for his own benefit so this really isn't surprising.

He is United supporter since his childhood. I think the actual state of the club's finances has come as a surprise to him. He has invested £330 million of his own money into the club, without of which, they would've been close to bankruptcy.

 

[Ceremony]

He is United supporter since his childhood. I think the actual state of the club's finances has come as a surprise to him. He has invested £330 million of his own money into the club, without of which, they would've been close to bankruptcy.

I don't doubt the club is an absolute shambles and lots of people have been taking it for a ride for a long time. But it's still funny how he's managing such bad PR with basically everything he's doing.

 

[luiginb]

At least he's not the Glazers!

He does look slightly less reptilian to be fair

 

[hatterson]

He is United supporter since his childhood. I think the actual state of the club's finances has come as a surprise to him. He has invested £330 million of his own money into the club, without of which, they would've been close to bankruptcy.

You don’t spend as much as he did without due diligence on the finances of the club. He wasn’t surprised by the balance sheet when he took over.

 

[Jussi]

You don’t spend as much as he did without due diligence on the finances of the club. He wasn’t surprised by the balance sheet when he took over.

I mean all the "little things" that loose money, like high wages for the club ambassadors and what not. Plus how much Luke Shaw was abusing the free lunches at the canteen.

 

[Duchene2MacKinnon]

I mean all the "little things" that loose money, like high wages for the club ambassadors and what not. Plus how much Luke Shaw was abusing the free lunches at the canteen.

Of course you would stoop this low and try to justify the reduction of meals… get a grip.

 

[Jussi]

Of course you would stoop this low and try to justify the reduction of meals… get a grip.

It's a joke on Luke Shaw.