Sir Jim Ratcliffe is reportedly implementing cost-cutting measures at Manchester United. This includes scaling back on privileges such as chauffeur-driven private cars for some members of staff. INEOS, the company led by Ratcliffe, has appointed a consultancy firm to investigate and advise on reducing costs at the club.
The focus is on business costs rather than player wages and transfer market spending. The goal is to increase the club’s financial power for player recruitment. Additionally, there is a desire to ensure compliance with profit and sustainability rules, particularly after recent penalties imposed on other clubs.
Manchester United had been fined for a minor breakeven deficit related to Financial Fair Play rules last summer. The club’s chief operating officer emphasized the need for disciplined spending to maintain compliance. Ratcliffe has also stressed the importance of operating within the club’s means to avoid breaking financial rules.
Despite significant past expenditure, United is confident in their ability to stay within profit and sustainability rules. The club recently announced record revenues, and the focus is on managing FFP regulations effectively to benefit the club. Ratcliffe acknowledged the impact of prior expenditure on FFP considerations and emphasized the need to carefully manage future spending.
Overall, the club is taking steps to ensure financial discipline and compliance while aiming to maintain its financial stability and growth.