Manchester United’s season has been a very ordinary one under Ruben Amorim who joined the club after Erik ten Hag sacked from the job. As per the latest account reports, the likes of Erik ten Hag, Dan Ashworth and other football staff have cost the club a staggering £14.5 million. This latest report comes amid a difficult season for United who find them languishing in the 15th position.
Ten Hag, who was dismissed in October after a dismal start to the Premier League campaign, had only recently been given a contract extension that would have tied him to Old Trafford until 2026. However, despite the club’s earlier confidence, his tenure did not turn the tide. Instead, the decision to axe him, along with his backroom staff, cost United a reported £10.4 million. The swift exit of Dan Ashworth, who arrived from Newcastle on July 1 only to depart on December 8 – added another £4.1 million to the bill, bringing the total to £14.5 million.
An account release from United stated for the quarter was a cost of £14.5 million. This relates to the compensation paid to the sacked manager, Erik ten Hag and other members of the staff. With minority owner Sir Jim Ratcliffe set to mark one year at the club soon, many view these moves as some of the most glaring errors in recent times.
The financial strain is compounded by other off field issues as well. United’s revenues for the quarter ending December 31 fell by 12 percent year-on-year to £198.7 million, while net finance costs surged from a mere £300,000 to £37.6 million, partly due to an unfavourable swing in foreign exchange rates on unhedged US dollar borrowings. CEO Omar Berrada acknowledged the challenges that have grappled the club. He stated, “We recognize the challenges in improving our men’s team’s league position and we are all working hard, collectively, to achieve that.”
Amid a growing concern of financial implications, United has been actively applying cost cutting measures where they have shed around 250 roles over the summer. While further redundancies are reportedly on the cards in the summer. Additionally. ticket prices have also been increased much to fans’ dismay as United continues with the financial implications that have grappled the club with debts, interest rates and unpaid transfer sums.
As United continues to avoid Profitability and Sustainability Rules (PSR) implications, its eccentric plans of renovating its Carrington Training Complex continue. Moreover, plans for the future of a new stadium are currently in the pipeline and under discussion with the government. With the club still struggling on the pitch, the financial fallout from these moves may prove to be a tough swallow for United as they look to climb back to glory.