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'Cost-saving programme' - Manchester United explain Sir Jim Ratcliffe cuts as £113m loss confirmed

manchestereveningnews.co.uk

Manchester United's net losses rose to £113.2million for the financial year and a 'cost-saving programme' is under way to put the club on a more sustainable financial footing.

United recorded a net loss of £28.7m in 2023 and it's understood the net losses have risen due in part to increased investment in the playing squad (transfers and wages).

Sir Jim Ratcliffe has attempted to streamline operations at United since investing in the club in February and that has seen plans to axe around 250 jobs across departments accelerate.

Club sources have said the new leadership team, which includes the likes of Omar Berrada (CEO), Dan Ashworth (sporting director) and Jason Wilcox (technical director), has been installed with a focus on improving efficiency and outcomes in both football and commercial areas. ALSO READ: Manchester United insist they haven't broken FFP or PSR rules after posting £113m loss ALSO READ: United give update on medical department after injury crisis United have been streamlining their operation to 'maximise resources available for investment in football and infrastructure, and ensure that money is spent effectively'.

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