Man Utd spent £14.5m to sack Ten Hag, others
Manchester United paid a total of £14.5 million ($18.3 million) to dismiss manager Erik ten Hag, sporting director Dan Ashworth, and other football staff, according to the club’s latest financial accounts published on Wednesday.
United, the 20-time English champions, currently sit a lowly 15th in the Premier League following Sunday’s 1-0 defeat to Tottenham, with only West Ham and Wolves separating them from the relegation zone.
Hopes for an upturn in results under new manager Rúben Amorim have failed to materialise since the Portuguese coach replaced Ten Hag, who was sacked in October — just 116 days after United triggered a clause to extend his contract until 2026.
The costly decision, made by minority owner Jim Ratcliffe’s INEOS group, was further compounded by the rapid departure of Ashworth. The former Newcastle sporting director officially joined United on 1 July following protracted negotiations, only to leave on 8 December.
The financial impact of these decisions was revealed in United’s accounts for the quarter ending 31 December, listed under ‘exceptional items’.
“Exceptional items for the quarter amounted to £14.5 million,” stated a United press release.
“This relates to costs associated with the departure of former men’s first-team manager Erik ten Hag and various members of the football staff.”
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United confirmed in their first-quarter results that the pay-off to Ten Hag and his staff amounted to £10.4 million, indicating that Ashworth’s exit cost approximately £4.1 million.
The latest financial results also show that United recorded a loss of £27.7 million in the quarter ending 31 December.
Broadcasting revenue plummeted by 42 percent to £61.6 million due to the club playing in the Europa League instead of the more lucrative Champions League. Unless United win the Europa League, they are almost certain to miss out on Champions League revenue again next season.
This is expected to affect the transfer budget available to Amorim in the summer window. The Portuguese manager recently admitted that the club will need to sell players before making new signings.
Since British billionaire Jim Ratcliffe acquired a minority stake in the club, United have introduced a series of cost-cutting measures, including over 200 redundancies, despite widespread opposition. Ticket prices have also risen, sparking a backlash from supporters. Additionally, legendary former manager Sir Alex Ferguson saw his reported £2 million-a-year ambassador role axed.
“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 CEO Omar Berrada.
AFP
