As many as 300 jobs are at risk at Manchester United as new part-owner Sir Jim Ratcliffe looks to undergo a major streamlining exercise at the club.
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Ratcliffe bought 25% stake in Man UtdMajor review of structure to be carried outAs many as 300 jobs could be cut at clubWHAT HAPPENED?
Ratcliffe will ask an external auditor to assess the club's structure and its expenditure, reports. The club's management have been instructed to help ensure they have as much money as possible to spend on transfers by restricting rising costs in other areas.
AdvertisementGetty ImagesTHE BIGGER PICTURE
United have at least 1,000 employees on their payroll and Ratcliffe believes that figure can be cut by between 25 and 30 percent. He is expected to hire a major auditor to inspect the structure at the club, with one of KPMG, Deloitte, Ernst & Young or PwC tipped to be called in.
DID YOU KNOW?
Ratcliffe's purchase of a 25% stake in United for £1.25 billion ($1.59bn) was confirmed on Christmas Eve. He will provide $300 million (£237m) to renew the infrastructure at Old Trafford. His partial takeover will be ratified by the Premier League after the January transfer window.
GettyWHAT NEXT FOR MAN UTD?
The Red Devils may look to invest further in the squad in the January transfer window. First of all, though, Erik ten Hag's team will finish off the year with a Boxing Day match against Aston Villa before facing Nottingham Forest on December 30.