Sir Jim Ratcliffe is risking hypocrisy at Man United with Ruben Amorim contract clause
“We’ve got more accountants than we’ve got sporting people at Manchester United,” a bewildered Sir Jim Ratcliffe told Bloomberg in June.
They have been busy at work since his arrival. United published their latest financial figures published in September, which showed the club received record revenue of £661.8million but made a loss of £113.2m for the year ending June 30.
United are nevertheless confident they will avoid any sanctions. The money magnet that is the Premier League and the presence of its Profit & Sustainability Rules [PSR] has encouraged an influx of financial clerks into English football on a growing scale.
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A source at a well-known financial accountancy firm says its football department is ‘oversubscribed’ with employees wishing to venture into the sector. And all the while, football legislation is being forced to change thanks to the work of lawyers in recent and ongoing hearing battles.
“If you’re not careful, the Premier League is going to finish up spending more time in court than it is thinking about what’s good for the league,” Ratcliffe added. He has been on a cost-saving exercise since becoming co-owner to make United more self-sufficient and ensure rules are not breached.
Not all of his early decisions en route to this north star have been popular. Ratcliffe has axed 250 staff jobs and has told Sir Alex Ferguson that he will be stood down from his ambassadorial role at the end of the season - a move blasted by Paul Scholes as “distasteful”.
The appointment of Dan Ashworth as sporting director and sacking of Erik ten Hag as manager were both more warmly accepted. Both