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| EPAYonhap News |
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| AFP Yonhap News |
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The situation at Manchester United, which is in debt, looks pretty serious.
Manchester United owner James Ratcliffe was interviewed by the BBC on the 11th (Korea time). The interview took place a day after a protest that Manchester United fans launched against his club's management, restructuring, and increased ticket prices.
United are in debt.
The total amount of debt is more than 1 billion pounds (about 1.8737 trillion won). This includes £300 million in transfer fees to other clubs. Last year, it spent 37 million pounds (about 69.3 billion won) solely on interest on debt. After the Glazer family from the United States acquired Manchester United in 2005, the goal deepened as they continued to invest excessively but failed to produce results.
Ratcliffe, who is also chairman of petrochemical company Ineos, began restructuring after becoming Manchester United's largest shareholder last year. After laying off 250 employees earlier this year, it announced last month that it would cut 200 more jobs. In addition, it has been decided to increase the cheapest ticket to Old Trafford, the home stadium, to 66 pounds (about 120,000 won). It has also decided to abolish lunch, which was provided to employees. Considering Manchester United's status as the most winning team in the Premier League, it is difficult to accept this reality. "Manchester United could run out of cash by the end of the year even if they don't recruit players this summer," Ratcliffe said. "We need to reorganize our business to restore our financial soundness."," he added. Regarding fans' criticism of spending £37 million (about W69.3 billion) on debt interest alone, he said, "It's part of the cost, but it's not the biggest in the club."
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| AFP Yonhap News |
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| ReutersYonhap News |
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The biggest reason Manchester United has become this way is that the recruitment made in recent years has not been successful. It was a vicious cycle of failing to produce results and spending a lot of money even though they spent a lot of money every season. As a result, it has reached the point where it is not possible to properly pay the transfer fee in installments. Ratcliffe said of the current Manchester United squad that `there are players who are not good enough, and there are players who have overpaid.'
Business and debt are inseparable. However, if the debt is too large for the size of the company like Manchester United, it will inevitably be a problem. Ratcliffe says "Most football clubs or businesses in England have some form of debt"If you're a really profitable club, you can have a sound financial foundation. That's what Manchester United should be like," he stressed.
Ratcliffe has pledged to win the Premier League by 2028, the 150th anniversary of the club's founding after taking over his stake in Manchester United. With just three years left on his promise, Manchester United's reality looks disastrous. In response, Ratcliffe "I don't think it's impossible. It's important to have goals and objectives" compared to the time it took for Arsenal and Liverpool to return to the strong team. But it's not impossible.'
Ratcliffe, who said "I don't enjoy reading recent newspapers", said "Change makes many uncomfortable, and some changes may be taken as unpleasant. However, it is essential to return the club to a stable foundation and win the trophy. Then "I know I'm not popular. But it's okay. I don't care if that situation continues for the time being. Because I believe what I do is right."
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| EPAYonhap News |
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| EPAYonhap News |
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This article was translated by Naver AI translator.
