Man United spent £14.5 million on sackings including Erik ten Hag and Dan Ashworth
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Manchester United confirmed that the pay-off to former manager Erik ten Hag and his staff was worth £10.4 million.
PHOTO: AFP
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LONDON – Manchester United paid a total of £14.5 million (S$24.5 million) to sack manager Erik ten Hag, sporting director Dan Ashworth and other members of their football staff, according to the fallen English giants’ latest accounts published on Feb 19.
United, the record 20-time champions of England, are currently a lowly 15th in the English Premier League table following last weekend’s 1-0 loss at Tottenham Hotspur, with only West Ham United and Wolverhampton Wanderers between them and the relegation zone.
The hope for an upturn in results under new manager Ruben Amorim has failed to materialise since the Portuguese boss replaced ten Hag, sacked in October just 116 days after United triggered a clause to extend the Dutchman’s contract until 2026.
A costly decision taken by minority owner Jim Ratcliffe’s Ineos group was compounded by the rapid exit from Old Trafford of Ashworth, who arrived from Newcastle United on July 1 following lengthy talks only to leave on Dec 8.
The financial expense of those decisions was laid bare in United’s results for the quarter ending Dec 31 under “exceptional items”.
“Exceptional items for the quarter were a cost of £14.5 million. This relates to costs associated with the departure of former men’s first-team manager Erik ten Hag and various members of football staff,” said a United press statement.
The Old Trafford outfit confirmed in their first-quarter results the payoff to ten Hag and his staff was worth £10.4 million, indicating Ashworth’s departure cost some £4.1 million.
The latest financial results also show United made a loss of £27.7 million over the quarter ending Dec 31. Broadcasting revenue plunged by 42 per cent to £61.6 million due to playing in the Europa League this season rather than the more lucrative Champions League.
Unless United go on to win the Europa League, they are almost certain to miss out on Champions League revenue again next season.
That is likely to affect the transfer budget handed to Amorim in the close season. The manager said last week that the club will have to sell before they can buy in the summer window.
In the year since British billionaire Ratcliffe bought a minority stake, a series of unpopular and wide-ranging cost-cutting measures have been implemented, including over 200 redundancies.
Ticket prices have also increased despite a supporter backlash, while legendary former manager Alex Ferguson saw his reported £2.16 million a year ambassador role ended amicably.
“We recognise the challenges in improving our men’s team’s league position and we are all working hard, collectively, to achieve that,” said United chief executive Omar Berrada. AFP
