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Manchester United They admit they are at risk of failure Financial Fair Play If they keep losing money.
United have told a group of supporters that ticket prices could rise further as they look to improve their finances and avoid Violate profitability and sustainability rules.
United lost £113m last financial year and £305m in three years under new co-owner Sir Jim Ratcliffe Old Trafford has come under fire for keeping some tickets up to £66.
Although United expect their revenue to be between £650m and £670m for the current year, they have committed £600m in transfers under former manager Erik ten Hag and are struggling to sign a new manager in January. Reuben Amorim. They made about 250 workers redundant in a cost-cutting measure and sought to save money in a variety of other ways, including the termination of Sir Alex Fergusonof £2m-a-year ambassadorial deal.
In a letter to 1958, they said: “We are determined to ensure that our current fans can continue to afford to attend games and that tickets are accessible to future generations of fans.
“As previously stated, we are currently making a significant loss each year – totaling more than £300 million over the past three years. This is unsustainable and we are at risk of failing to comply with PSR/FFP if we do not act now [financial fair play] Significantly impact our ability to compete on the requirements and pitch in future years.
“We will get back to a cash positive position as soon as possible and we will have to make some tough choices to get there. This includes significant reductions in our workforce as well as reductions in many areas of expenditure across our club.
“None of this has been easy, but we believe it is essential to restore the financial stability of the club which will help us as we work to return to the top of English and European football. “We don’t expect fans to make up all of the current shortfall – but we do need to look at our ticketing strategy to ensure we’re charging the right amount and offering the right discounts on our products for our fans.”
