daniel chigunwe
LONDON. – Sir Jim Ratcliffe’s ruthless cost-cutting campaign since buying a minority stake in Manchester United now extends to vegetables and Sellotape.
Ratcliffe’s Ineos completed their £1.03bn purchase on February 20, 2024, with supporters initially cautiously optimistic that fortunes would begin to improve under the self-proclaimed boyhood fan.
Alongside Ineos pal Sir Dave Brailsford, the British billionaire has since risked the wrath of supporters by making brutal cuts across the club in the 12 months since.
Last summer, 250 staff members were made redundant, saving an estimated £35million.
While earlier this month, SunSport revealed that up to 200 more jobs could be at risk.
Earlier this season United also made the unusual move to raise ticket prices mid-campaign − with seats rising to a minimum £66 each with no concessions − sparking outrage as well as fears of further price hikes next season.
In a recent report by the Telegraph, several more cost-cutting measures implemented by Ineos were revealed, following pre-tax losses of £313m over the last three years. Scrutiny is now placed on all purchases made across the business − from things as mundane as Sellotape and vegetables.
This “zero-based budgeting” has seen staff members forced to count cartons of screws individually, in order to ensure they were not over-ordering.
And following a sizable stationery order, Sellotape was returned after being deemed unnecessary.− The Sun
Online Reporter