As of Christmas 2024, Sir Jim Ratcliffe and his team from INEOS have taken over Man United for the full year. In his early tenure, the British billionaire brought a new wind when he completely changed the way a giant but well-used machine operated. "Red Devils" fans once compared Sir Jim to a precious gift given by Santa Claus on Christmas Eve. However, things did not seem so perfect.
£547 million is a huge debt that Glazer left for INEOS when taking over the club's management. Sir Jim Ratcliffe is considered a brave man who gave up the safety of sports teams in the INEOS ecosystem to take on a difficult mission at Old Trafford. The richest man in the UK has done everything he could for over a year but until now, things are still not on track.
Speaking about Man United's unprofessional disappointment, the image of the legendary Old Trafford stadium in serious disrepair is the clearest proof. Many times, images of the stadium arch leaking, causing rainwater to flow down like a waterfall have been spread on social networks. Not only leaking outside, the press conference room inside the stadium also leaked when reporters had to use buckets to pick up a post-match interview with Ruben Amorim. Not stopping there, the appearance of mice is a headache for the stadium management board when they appear everywhere, from the Old Trafford grass to the outside stands and the inner rooms.
"The Theater of Dreams" is no longer sparkling. Now, it is a place that has witnessed many failures of the club and even ugly images that are no different from an amateur team.
To improve all that, Sir Jim and his team have considered the option of building a new stadium. However, when we are in debt of more than half a billion pounds and facing immediate economic problems, cash flow to worry about today is still difficult, let alone spend for the distant future. It is expected that when the new stadium is built, Man United could lose up to 3 billion pounds, a figure beyond the club's current capacity even though the "Red Devils" have always been known as one of the teams with the highest annual revenue in the world.
When it is not possible to consider big things like building a new roof for Man United, Sir Jim and his colleagues have started a "bellied belt" policy in the hope of saving from the smallest things. Money is a very sensitive issue and every time a certain amount of money is cut off, small conflicts quietly appear as if they are trying to destroy the new operating system of the owners.
Money for staff to accompany each match, staff money, Christmas organization money, ... many expenses are considered natural at Old Trafford for many years now. Sir Jim cut them resolutely and somewhat roughly, shocking many people. The estimated 2024 Christmas budget of only about 250,000 pounds (equal to Marcus Rashford's 1 week's salary) was not provided, causing the outrage to begin to feel in the hearts of Old Trafford.
A typical example is the case of INEOS cutting the ambassador contract of legend Sir Alex Ferguson. The contract worth about 2.1 million pounds/year to pay tribute to the greatest figure in the club's history is no longer there. Previously, at least 250 employees also left when their contracts were terminated.
From a financial perspective, what Sir Jim is doing will help Man United's men take less risks. However, in the opposite direction, is it a disorder in the way INEOS operates? They are willing to cut down on very small things but cannot solve the chaos in Erik ten Hag's squad, now Ruben Amorim. No one can say goodbye when coming to Man United at this stage, from the players, coaches to the managers. Sir Jim may be starting to feel the same harshness as the dream-breaking stars on the pitch.
As for fans, they felt very angry because everything was too bad up there, but now, the team continues to increase ticket prices. Loyal fans who come to the stadium every week now have to spend more money to witness their heads often bowing off the field after each loss. It is not worth exchanging and only brings anger.
2025 will be very difficult for the "Red Devils" when they cannot repay all old debts and do not have much new cash flow. There will be many more shocks at Old Trafford, similar to the rainwater pouring down from the roof.
