Gone are the days when Manchester United was the most powerful team on the planet, led by Sir Alex Ferguson. However, with the departure of the legendary Scottish coach from the Old Trafford bench in 2013, Manchester United entered a dramatic sports crisis that, over the years, has been reflected in the club’s financial records.

“Manchester United would have run out of money by the end of this year”

Just a few months ago, after going through a tedious acquisition process, Jim Ratcliffe convinced the Glazers to become part of the ownership of Manchester United. Everyone at Old Trafford eagerly awaited his arrival. However, the reality is that the club is still adrift on the sporting side... while the financial crisis has become unsustainable.

“If we hadn’t implemented the cuts and restructuring in the past few months, Manchester United would have run out of money by the end of this year,” he commented in an interview with ‘BBC’ and ‘The Times’. Over the past few months, more than 450 layoffs have taken place. Otherwise, “Manchester United would have gone bankrupt by Christmas.”

The Renovation of Old Trafford

A drastic decision by the club that has spent the most money on signings (€1.46 billion) since Ferguson’s departure in 2013. In addition, there is the disproportionate spending on salaries, which, as Ratcliffe admitted, is hindering the reconstruction of Manchester United. “We haven’t had much time to modify the squad,” he emphasized.

It’s clear that Manchester United needs to find new ways to rebuild the project from scratch, and for this, Ratcliffe has explained the importance of investing in the renovation of Old Trafford. “If people want to see the United winning trophies again, we have to do all of this. If we don’t, we’ll end up in the same place we’ve been for the past 12 years.”