Man United Financial News Archives - Man United News And Transfer News | The Peoples Person https://thepeoplesperson.com/category/news/financial-news/ Manchester United's No.1 most popular news website. Latest Man United news, transfer gossip, goals, highlights and more. Mon, 13 May 2024 20:59:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 United fans won't be happy as INEOS kick embarrassing issue into the long grass - report https://thepeoplesperson.com/2024/05/14/manchester-united-will-not-fix-leaky-roof-until-decision-made-on-stadium-rebuild-280187/ https://thepeoplesperson.com/2024/05/14/manchester-united-will-not-fix-leaky-roof-until-decision-made-on-stadium-rebuild-280187/#respond Tue, 14 May 2024 03:00:04 +0000 https://thepeoplesperson.com/?p=280187 Manchester United will not fix Old Trafford’s infamous leaky roof until a…

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Manchester United will not fix Old Trafford’s infamous leaky roof until a decision has been on whether there will be a full stadium rebuild.

Dubbed the “Theatre of Streams” on social media, the world got yet another up close and personal look at the decay on full show at United’s famous old stadium during the home side’s 0-1 loss to Arsenal on Sunday afternoon.

As the final moments of another desperately disappointing performance approached, thunder and heavy rain descended from the Manchester sky.

If ever an image befitted a football club, the world’s cameras caught water racing off the Old Trafford roof at the south-west corner of the ground.

The Mirror report that United have no plans to act until a decision is made on whether Sir Jim Ratcliffe will get his dream of building a new “Wembley of the North” to be built adjacent to the current Old Trafford stadium.

In an embarrassing day on and off the pitch, “several areas, including the players’ tunnel, away dressing room and seated areas” all succumbed to flooding.

United commented that “the waterfall-like flood in the south-west corner was caused by a high volume of water entering the siphonic roof drainage system so rapidly it caused it to overflow. Despite that, the club has acknowledged there are sporadic leaks in the Old Trafford roof, due to holes from wear and tear, which becomes a major issue during periods of heavy rainfall like Sunday.”

The outlet reports that the Red Devils have looked into the feasibility of a new roof but it would be an expensive undertaking, especially if it is eventually decided that a new stadium will be built.

A taskforce to discuss the possibility of building a new stadium was set up in March and held its first meeting in April.

It was chaired by Lord Sebastian Coe and other members include Andy Burnham, Mayor of Greater Manchester, Sara Todd, Chief Executive of Trafford Council, and Gary Neville, former captain of Manchester United.

The options on the table “are knocking down Old Trafford and building a new state-of-the-art stadium on the same site, a project which could cost as much as £3billion.”

“Another option is to refurbish Old Trafford, which would not be as costly as razing the stadium to the ground, or take as long as building a completely new arena. Revamping Old Trafford has been estimated to cost around £1bn, but Sir Jim Ratcliffe, who is leading the task force, is understood to prefer building a brand new stadium.”

Whilst United fans will certainly be excited about the prospect of a new stadium it is worrying that the club seems unwilling to spend again on something which seems so basic. It seems fans have seen this type of inaction before.

A decision on a new stadium could be months away and certainly years away from completion. Therefore, it hardly sends out a positive message that the new owners are not prepared to shell out to fix such a clear problem in the present.



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INEOS make another big call after their audit of United's training facilities - report https://thepeoplesperson.com/2024/05/10/sir-dave-brailsford-wants-a-new-training-ground-for-manchester-united-280033/ https://thepeoplesperson.com/2024/05/10/sir-dave-brailsford-wants-a-new-training-ground-for-manchester-united-280033/#respond Fri, 10 May 2024 19:00:19 +0000 https://thepeoplesperson.com/?p=280033 INEOS are driving the winds of change at Manchester United with the…

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INEOS are driving the winds of change at Manchester United with the top-level executives feeling the brunt of it so far.

Mass changes have already been executed and with more marginal changes like ending the hybrid working atmosphere by a deadline coming soon, more are on the way.

Old Trafford has also been addressed as a big pain point and talks over its redevelopment or relocation have started apace too.

However, the wide-scale changes are not expected to stop at just the stadium and more buildings are under the scanner.

As per Manchester Evening News, Sir Dave Brailsford, Sit Jim Ratcliffe’s right-hand man at INEOS, believes that United need to move from their existing training ground.

The Carrington facility has been United’s training home for the last 24 years but as with every other thing under the Glazers, has been a victim of apathy.

With United’s women’s team coming up and youth teams expanding, the belief is that Carrington has become far too condensed.

During his wholesale audit of United’s operations, Brailsford has reportedly marked Carrington as “not fit for purpose as an elite sports base”.

Sir Dave has reportedly impressed many with his audit and the fruits of that operation have already been set in place, with the likes of Jason Wilcox coming in.

Moving from Carrington, however, will be much harder than appointing a technical director as the club already has a logistics nightmare on its hands.

The offices are not big enough to accommodate everyone working from the office plus the stadium plans will take up time, money, and land too.

Ultimately, INEOS’ work at United will be in the long-term so they might have to prioritise their list of work to be done.

Currently, it looks like setting something in motion for Old Trafford could be first priority while Carrington trundles along till it is addressed.


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United's surprise ranking in prestigious rich list after years of mismanagement will shock fans https://thepeoplesperson.com/2024/05/08/manchester-united-placed-as-the-worlds-most-valuable-club-in-2024-279937/ https://thepeoplesperson.com/2024/05/08/manchester-united-placed-as-the-worlds-most-valuable-club-in-2024-279937/#respond Wed, 08 May 2024 21:00:15 +0000 https://thepeoplesperson.com/?p=279937 It looks like Sir Jim Ratcliffe’s stake in Manchester United was a…

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It looks like Sir Jim Ratcliffe’s stake in Manchester United was a bargain after all!

Despite the season setting up to be United’s worst in the Premier League era and off-field changes igniting more excitement than on-pitch performances, United’s brand value remains resistant to the negative impact.

Sportico have released their list of most valuable soccer teams in the world for 2024 and United are first.

With a value of $6.2 billion, United join elite company with Real Madrid as the only two teams with a value north of $6 billion.

Third is Barcelona at $5.28 billion while Liverpool and Bayern Munich round out the top five.

The brand value of the Premier League as a whole is on stark display here, as six of the top 10 spots are taken up by the league’s “traditional top six”.

However, it is still remarkable to see that leading the race is the team performing the worst on the pitch among them this season.

Years of success under Sir Alex Ferguson in the Premier League era turned United into a money-making machine but they are arguably paying the price for it.

That is because their value attracted investors like the Glazers who have bled the club dry and it is a sign of United’s loyal fan following around the world that they still lead lists like these.

The value is calculated by multiplying a club’s average revenue of the last three years by eight, a standard practice among bankers.

Eyebrows were raised when Sir Jim was willing to part with more than a billion just for about a quarter stake in United.

However, the club’s enduring brand value despite not seeing success is proof of the fact that United are a sleeping giant still printing money, with the potential to do so much more with a coherent on-pitch strategy.


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Financial expert pinpoints how Liverpool's latest move was specifically designed to hurt United https://thepeoplesperson.com/2024/05/07/liverpool-voted-for-new-financial-rules-to-impede-manchester-united-279862/ https://thepeoplesperson.com/2024/05/07/liverpool-voted-for-new-financial-rules-to-impede-manchester-united-279862/#respond Tue, 07 May 2024 10:00:41 +0000 https://thepeoplesperson.com/?p=279862 Manchester United’s rivalry with Liverpool is clearly huge on the pitch but…

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Manchester United’s rivalry with Liverpool is clearly huge on the pitch but it seems that it is alive and well off it as well.

There was a potentially vital vote among Premier League clubs last week which determined that clubs will follow new anchoring regulations.

The Athletic claim that these rules mean that “the de facto salary cap would limit the amount of money any club can invest in their squads by tying it to a multiple of what the lowest earners get from the league’s centralised broadcast and commercial deals.”

It is then clear why the majority of the mid table and bottom sides would vote for it, but it was also popular among some bigger clubs in the league.

United, Manchester City and Aston Villa all voted against the new rules while Chelsea abstained from the process.

The reason for the Red Devils’ opposition is “there is a belief it would slow down INEOS’ attempt to turn the tide quickly at Old Trafford, while also undermining the ability of United — and other English clubs — to compete at the highest level in the European tournament.”

However, interestingly, Liverpool also voted in favour of the deal and Football Insider’s football financial expert, Kieran Maguire, believes there may be an element of malice behind their actions.

“Given that Liverpool have high revenue generation and commercial income, I was a little bit surprised by their vote”.

“But they are not generating quite as much as Manchester United and Manchester City, and therefore they will have done their sums.”

“There’s one thing you have to admire FSG for, which is the amount of forensic attention to detail that they undertake before making any decision. They will have realised that it would impact Manchester United and Manchester City marginally more than it would impact them.”

“Therefore it was in Liverpool’s best interests to vote for the anchoring rules.”

It seems strange that a team would vote to handcuff themselves financially just so their rivals are also constrained. However, perhaps it is an indication of the fear the Anfield side have about approaching next season without their talismanic coach Jurgen Klopp for the first time since 2015.

Moreover, it is also perhaps a compliment to the work they think that INEOS are about to embark on at Old Trafford that they seem so desperate to impede it at any cost.


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INEOS’ grand plans for Carrington emerge as Sir Jim Ratcliffe’s scope of ambition become clear https://thepeoplesperson.com/2024/05/05/ineos-grand-plans-for-carrington-emerge-as-sir-jim-ratcliffes-scope-of-ambition-become-clear-279795/ https://thepeoplesperson.com/2024/05/05/ineos-grand-plans-for-carrington-emerge-as-sir-jim-ratcliffes-scope-of-ambition-become-clear-279795/#respond Sun, 05 May 2024 19:00:47 +0000 https://thepeoplesperson.com/?p=279795 Manchester United have fallen behind their rivals on the pitch but that…

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Manchester United have fallen behind their rivals on the pitch but that can also be attributed to being left behind off it.

The Glazers have never really tried to keep up with their rivals and standing still in football is akin to moving backwards, which is precisely what has happened at the club.

Therefore, Sir Jim Ratcliffe’s brief after taking ownership stake at the club was more than just buying good players and making a great team.

He understood this which is why plans for Old Trafford began developing quickly and now, plans for their training ground, Carrington have emerged.

The Daily Mail reports INEOS’ extremely ambitious and grand plans for the training ground which is in line with Sir Dave Brailsford’s “marginal gains” philosophy.

The biggest change will be the installment of a new “pre-activation and player performance” zone as reducing injuries has been priority numero uno for the new regime.

Some cosmetic changes like bringing more natural light into the facility and moving laundry facilities outside of the area to make football the primary focus are in line with marginal gains.

Also notable is the construction of a “winter garden” to provide protection from the notorious Manchester weather and give a reliable space for holding meetings and gatherings.

The office space area will expand which corroborates Sir Jim’s latest diktat of ordering staff back to offices and ending the work-from-home culture.

The wide scale of changes are likely to cost multiple millions and the upcoming preseason is regarded as the best time to accelerate this process.

Just like Old Trafford, Carrington is also believed to have been left behind by their rivals as the Glazers have dithered and stuck to a motto of minimum investment, maximum possible reward.

Sir Jim and his INEOS team, therefore, face a tall task of not just modernising the club on the pitch, but equally as big a task of bringing it to the 21st century off it.


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The inside story of how INEOS took a "sledgehammer" to Glazer's United to wrestle away power - Athletic https://thepeoplesperson.com/2024/05/02/ineos-launch-game-of-thrones-style-power-grab-at-man-united-279665/ https://thepeoplesperson.com/2024/05/02/ineos-launch-game-of-thrones-style-power-grab-at-man-united-279665/#respond Thu, 02 May 2024 09:00:52 +0000 https://thepeoplesperson.com/?p=279665 When INEOS took over the reins at Manchester United in December, it…

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When INEOS took over the reins at Manchester United in December, it was agreed they would gain full control over the sporting operation at Old Trafford but the last few months has seen a large swing in power dynamics at the club.

The Athletic have taken a deep dive into how this has come to be.

When the deal to acquire 25% of the club in December was announced, it was assumed that this would only extend as far as sporting control and, sadly, the Glazers would still dominate decision making in the financial sphere.

In this regard, the appointments of Sir Dave Brailsford and Jean-Claude Blanc to the board, two men with huge histories in sport, were logical.

However, this narrative quickly changed when at an “all-staff meeting at Old Trafford on the 24th of January, interim chief executive Patrick Stewart informed employees that INEOS and the Glazer family had reflected on previously agreed arrangements and told colleagues the scope of INEOS’ work may in fact far be more substantial.”

This new remit could be seen in the fact INEOS would take a large role in deciding the future of Old Trafford, with Sir Jim Ratcliffe releasing statements over his desire to build a “Wembley of the North”. Consequently, a new taskforce was set up to discuss the future of the stadium, with INEOS very much behind its birth.

INEOS have already hired a new CEO in Omar Berrada, who will begin on the 13th July when his gardening leave at Manchester City ends.

Interestingly, it was also announced this week that Patrick Stewart, United’s interim chief executive after Richard Arnold resigned, will leave the club, with Blanc filling in until Berrada is available: “The inevitable speculation, therefore, is whether a strain had enveloped the relationship between Stewart and INEOS and if Stewart may have been reluctant to implement the pace of change his new employers truly desire.”

Cliff Baty, who was United’s chief financial officer, “however, is arguably the more interesting exit, at least in the fact that his replacement Roger Bell was until recently the chief financial officer of INEOS Sport. This tells us that the Glazer family have now outsourced the financial and football management of the club to people in INEOS’ circle. Bell posted on Linkedin at the turn of the year he was retiring after 40 years with INEOS to pursue a ‘change in direction’.”

Whilst the Glazers remain, and do have the greater shareholding, meaning they could take back control when they want, they seem happy to delegate to the petro-chemicals company.

“There is nothing more symbolic than claiming control of United’s finances; meaning INEOS now has its own man handling approvals on player trading, contract renewals and all money going in and out of the club. There does not appear to be any Glazer-appointed stopgap to intervene on behalf of the majority owners.”

All in all, it looks a good deal for the Americans as if the moves are successful, it will increase the value of the club they own but at the same time, were things to tailspin, they can easily blame the new guys.

“Since November, the chief executive Richard Arnold, the football director John Murtough, the CFO Baty and the interim CEO have all fallen by the wayside. Phil Lynch, the club’s CEO of digital products and experiences (also a member of the ELT) has also resigned.”

All of these staff members were closely linked to the Glazers and their exits indicate a systematic approach by INEOS to strengthen their control at Old Trafford.

Back in December, it was announced that Brailsford would carry out an audit on the club and most believe we are now seeing the ramifications of his work.

“In the words of one employee, a Game of Thrones has developed behind the scenes as INEOS has sought to overhaul United’s operations in recent months.”

Previously sporting appointments such as the agreement with Dan Ashworth to become the new sporting director, effectively left John Murtough surplus to requirement and he too decided to move on to pastures new.

“In recent months, INEOS sought to shake up United’s working environment. They are unhappy, for example, that the club made £648.4m in revenue for the year end 30th of June 2023, only to still contrive to lose over £42m. INEOS believes a revamp of the club’s method of recruiting footballers will go a long way to improving this but the consultancy Interpath was also enlisted to review costs across the club.”

“This has led to significant decisions that impact certain staff members; such as one to take company credit cards away from staffers, while last week staff members discovered they would have to pay £20 if they wished to travel on a club-provided coach to the FA Cup final against Manchester City at Wembley on the 25th May.”

These financial decisions are examples of how INEOS have wrestled power away from the Glazers at the football club.

“As INEOS takes a sledgehammer to the Glazers’ executive team, there does not appear to be too much concern about whether they upset people along the way.”

In fact some feel that the new owners may even proactively want people to be looking elsewhere. “INEOS, for its part, believes the shock therapy it is implementing at Old Trafford is necessary; it believes the atmosphere has been too comfortable, where people are happy in their jobs even when the club is losing money off the pitch and losing games on the field.”

In essence, “the future has to be different from the past” and INEOS seemingly winning the power struggle at the club may not bear fruit, but at least the path trodden previously will certainly differ in the present and the future.


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Landmark Premier League rule change voted in could hamper INEOS at United as club oppose it - report https://thepeoplesperson.com/2024/04/29/premier-league-brings-in-landmark-rule-change-to-implement-spending-caps-as-manchester-united-oppose-it-279559/ Mon, 29 Apr 2024 15:20:14 +0000 https://thepeoplesperson.com/?p=279559 Manchester United’s upcoming summer transfer window was set to be a landmark…

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Manchester United’s upcoming summer transfer window was set to be a landmark one as it will be Sir Jim Ratcliffe’s first as United owner.

Now, it will be a landmark window for all Premier League clubs and United are not huge fans of it.

Martyn Ziegler of The Times reports that the league has voted in a spending cap for the clubs from next season with only three clubs voting against it.

The Manchester clubs, along with Aston Villa voted against it while free-spending Chelsea abstained from voting.

The new cap will anchor the maximum spend of all clubs in the league to the TV revenue of the bottom-placed club in the league.

It is still undecided by what multiple that revenue will be finalised to reach the final cap, neither is it decided what the repercussions for going over it will be.

In the meantime, this proposal will go to the Annual General Meeting of the league but this might just be the start of the storm.

The PFA, the organisation that safeguards the interests of the players, has already come out with a statement against the proposal, wary of it potentially capping player wages.

Furthermore, with other countries not following suit, it could put the Premier League at a competitive disadvantage.

England infamously decided to close its transfer window before the start of the league season but had to go back to the status quo after realising other clubs could buy their players.

From a United perspective, it is clear why the club voted against this change.

Sir Jim Ratcliffe has already shown more ambition for the club than the Glazers did in the last nearly 20 years and he would have been eagerly waiting to start making his mark in the summer.

In the long term, those hands could be tied, especially if United enter a virtuous cycle of on-pitch success driving revenue off the pitch.


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Glazers' incompetence set to hurt Sir Jim Ratcliffe's ability to transform United in the summer - report https://thepeoplesperson.com/2024/04/26/ineos-biggest-challenge-at-manchester-united-in-the-summer-is-a-glazer-inheritance-279435/ Fri, 26 Apr 2024 20:00:43 +0000 https://thepeoplesperson.com/?p=279435 Manchester United’s summer transfer window at the end of this season is…

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Manchester United’s summer transfer window at the end of this season is set to be a landmark moment in the club’s history.

It is the first window under INEOS’ regime and if Sir Jim Ratcliffe has his way, United might have a new-look recruitment team in place as well.

That should soothe the concerns of United fans who have long lamented the lack of football expertise in decision-making.

However, their ambitions for the summer and beyond could be slowed down all due to years of wrongdoings by the Glazers and their people.

ESPN reports that United are aware of the need for an overhaul of the squad but they recognise that their ability to sell the players will be diminished greatly.

The report states that the stringent Profit and Sustainability rules have made Premier League clubs wary of spending freely.

Furthermore, United’s “on-sale” players fall under the worst category of high earners but low performers on long contracts.

The likes of Anthony Martial and Raphael Varane could be set to leave on the expiry of their contract but players like Casemiro will be pretty much impossible to shift.

Saudi Arabia is seen as a viable destination for some of these players but effectively calling time at top-level football is not a decision every player will make.

Moreover, if United can’t get rid of these players and their salaries off the wage bill, it will highly affect their ability to recruit as well.

It is no secret that United are skirting close to PSR and Financial Fair Play limits as well and have already been fined once for exceeding it.

Therefore, selling well and early is the key to a good transfer window but the mess they are inheriting from the Glazers will hit that prospect hard.

Ultimately, United might not have a choice but to let the contracts expire or take huge losses on sales just to be able to start on a clean slate.


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"The first option is to...": Old Trafford could still remain as "world-class" redevelopment talks take place - report https://thepeoplesperson.com/2024/04/25/manchester-united-reveal-next-stage-of-old-trafford-redevelopment-project-279389/ Thu, 25 Apr 2024 17:00:04 +0000 https://thepeoplesperson.com/?p=279389 It was long overdue and took new owners for it to happen…

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It was long overdue and took new owners for it to happen but Old Trafford is finally getting the attention and respect it deserves.

After Sir Jim Ratcliffe’s tall ambition of making it “The Wembley of the North”, his words are being backed up by actions.

The first meeting of the Old Trafford regeneration project was held recently and now the club have revealed the next stage of the project.

The Daily Mail reports that while United have still not finalised which direction they’ll take- New stadium or refurbishment of the existing one, what either direction would look like has become clearer.

If the club decides to undertake refurbishment work on the existing stadium, its focus will be on building a “new world-class South Stand”, as per United’s Chief Operating Officer Collette Roche.

South Stand, known as The Bobby Charlton Stand, is the oldest stand in the stadium and a redevelopment of it could see the capacity of Old Trafford rise to about 90,000.

Roche said: “The first option is to redevelop the current stadium, which would; focus primarily on building a new world-class South Stand, as well as refurbishment of the other three stands.”

The other option, which Roche also talked about, is building an entirely new stadium which would come under the regeneration project.

The aim is to not just build a new stadium, but develop the area around it to create a comprehensive matchday experience for fans.

Roche said: “The alternative would be to build a new stadium on our footprint, which could significantly increase capacity, and deliver a world-leading stadium and experience for fans, the team, and other stakeholders.”

Sir Jim Ratcliffe has already revealed that his choice would be to build a new stadium instead of putting money in to salvage a quickly decaying Old Trafford.

The Glazers’ apathy has left the current stadium in a state not befitting the club the size of Manchester United.

If a new era is truly coming, it could begin with a lot worse than the announcement of a new stadium.


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How INEOS are planning on generating additional £20m during United's pre-season tour explained - report https://thepeoplesperson.com/2024/04/25/manchester-united-in-talks-to-extend-this-summers-pre-season-tour-of-the-united-states-279377/ Thu, 25 Apr 2024 12:00:52 +0000 https://thepeoplesperson.com/?p=279377 Manchester United have disappointed big time with manager Erik ten Hag under…

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Manchester United have disappointed big time with manager Erik ten Hag under immense pressure with fans desperate to see this season come to an end.

Supporters are already looking forward to next year as new co-owners INEOS plot plenty of changes behind-the-scenes and on the field.

The pre-season tour of the United States has already been announced with fresh faces and renewed optimism expected.

As reported by Football Insider, United are in talks to extend their tour of the States with senior figures at the club hoping to generate around £20 million revenue from the trip.

The decision has come after the Premier League and FA announced they will be scrapping FA Cup replays which will extend the summer break for teams in the top-flight.

It’s believed United have opened conversations with multiple clubs to arrange further friendly games that will include deals with sponsors and chosen venues.

United have already confirmed thy will be sourcing individual sponsors for their games in the US, rather than take part in the organised tournaments on offer.

Friendly matches have been announced against Premier League rivals Arsenal and Liverpool on July 27 and August 3, respectively.

The Arsenal game will take place in Los Angeles before the team travel to South Carolina to face old rivals Liverpool, who will be under new management for the first time in almost a decade.

Naturally, the visit of United will cause huge excitement across the pond and with senior figures aware that revenue raised in the 2024-25 accounting period will contribute to their budget under new financial rules, will look to cash in on the extra time granted this summer.

No official communication has come from United but given the need for funds at Old Trafford, it would not be a surprise to see an extra game or two get squeezed into the programme.

Before that however, Erik ten Hag will be desperate for a strong end to the season to give him the best chance of leading the team to the States after a disastrous second season in charge.

The FA Cup final takes place a month from today and looks like Ten Hag’s only hope of saving his position at Old Trafford.


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