1
Sir Jim Ratcliffe plans to begin his revolution at Manchester United by cutting over £30 million in wages over the January transfer window.
Football Insider reports the INEOS sporting team are “eager to implement stricter” financial measures at Old Trafford in a bid to bring down costs and promote productivity, both on and off the pitch.
United recorded a loss of £42 million last year and this number may be set to grow following early departures from the Champions League and Carabao Cup, as well as the unpleasant prospect of missing out on top four in the Premier League.
Ten Hag’s team currently languish in seventh place in the league with a negative goal difference.
The club’s third-place finish last season – which led to their Champions League appearance this season – would also have engendered a pay rise amongst the senior squad, owing to the bonus-incentivised contract structure used at Old Trafford.
The effect of this drive by Ratcliffe is already being felt with a number of decisive decisions made in recent days.
Sergio Reguilon has returned to Tottenham Hotspur following the termination of his loan deal. The Spaniard’s wage – in the region of £120,000 a week – will lead to £3.1 million saved in the second half of the season.
Similarly, Donny van de Beek’s relocation to Eintracht Frankfurt – which will see the German club cover 60% of his £125,000 a week wages – will spare United £1.9 million, meaning the pair’s departures combine to produce around a £5 million saving.
Jadon Sancho looks set to follow in Van de Beek’s footsteps to the Bundesliga with the winger increasingly close to agreeing a loan move to Borussia Dortmund. Though there is no official confirmation on the economics of the deal, the German club are reported to be offering a loan fee as well as covering some of the 23-year-old’s wages.
And given Sancho has been banished from the senior squad following a public dispute with Ten Hag in September, while continuing to collect a wage packet which could reach as high as £350,000 a week, any saving is a positive one for United.
It’s not just departures where the INEOS efficiency drive has been felt, however.
Last weekend, it was reported that United would not be extending Raphael Varane’s contract, which is set to expire in the summer. Instead, club officials will attempt to renegotiate a lower wage packet given the Frenchman currently earns £17.6 million a year. Given Varane’s inability to remain consistently available, with his 31st birthday rapidly approaching, this feels a sensible decision.
It appears the INEOS revolution is well and truly underway at Old Trafford and it will take no prisoners.
