Sir Jim Ratcliffe has revealed Manchester United was on the brink of financial collapse, warning the club could have gone bust by Christmas had he not implemented drastic cost-cutting measures.
In a series of brutally frank interviews, the minority owner laid bare the chronic overspending that has dragged the club “to the brink of oblivion”.
“At the end of 2025, Manchester United would have run out of cash,” Ratcliffe stated.
“That is the first time we have ever said that in public, but that is the fact of the matter.”
Sir Jim Ratcliffe has revealed Manchester United was on the brink of financial collapse, warning the club could have gone bust by Christmas had he not implemented drastic cost-cutting measures
OVERLAP
The British billionaire specifically named the stars who continue to cost United millions in transfer instalments.
“This summer, we will ‘buy’ Antony, we’ll ‘buy’ Sancho, we’ll ‘buy’ Casemiro, we’ll ‘buy’ Martinez, we’ll ‘buy’ Hojlund, we’ll ‘buy’ Onana, and they’re all about £17m each,” he revealed.
For Sancho, who now plays for Chelsea, United are still paying half his wages plus £17m this summer.
“Some are not good enough and some probably are overpaid,” Ratcliffe admitted.
JUST IN: Mohamed Salah and Liverpool star pulled apart at training ground ahead of crunch PSG clash
Sir Jim Ratcliffe has admitted some Manchester United players are probably ‘overpaid’
X
The United supremo has implemented a raft of cuts including axing up to 450 jobs and scrapping free lunches for staff.
Fans have protested these measures, with thousands marching before Sunday’s Arsenal match.
“The simple answer is the club runs out of money at Christmas if we don’t do those things,” Ratcliffe defended.
“If you spend more than you earn eventually that’s the road to ruin. Manchester United had gone off the rails a long way.”
He added: “I know it’s unpopular, and this period of change is uncomfortable for people, but they are necessary.”
Ratcliffe acknowledged some problems were self-inflicted after United paid millions to sack Erik ten Hag shortly after giving him a new contract earlier in the season.
“I agree the Erik ten Tag and Dan Ashworth decisions were errors. I accept that and I apologise for that,” Ratcliffe admitted.
Ashworth was dismissed as sporting director after just 159 days, with Ratcliffe citing a lack of “chemistry” with the leadership team.
LATEST SPORTS NEWS:
“If you look at the time we made the decision about Erik, the management team hadn’t been in place more than five minutes,” he explained.
Despite United’s current 14th place position, Ratcliffe expressed full confidence in new manager Ruben Amorim.
“If I actually look at the squad which is available to Ruben, he is doing a super job. He’s an excellent manager and I think he will be there for a long time,” he said.
The Ineos billionaire also believes United can win the Premier League title within three years, despite their troubles this term.
Sir Jim Ratcliffe is fully behind Ruben Amorim despite Man Utd’s patchy form under the 40-year-old boss
PA
“I don’t think it’s mission impossible. I think it’s good to have goals and objectives,” Ratcliffe stated.
United are next in action against Real Sociedad in the Europa League on Thursday night.
They go into that game with the tie in the balance following last week’s 1-1 draw in Spain.