What happens when you put a boyhood fan in charge of their club?
They discover it’s not so simple to run after all. And the fans you sat with many years ago are as impatient as ever.
Anger reverberates exactly a year since Sir Jim Ratcliffe and his INEOS organisation gained day-to-day control of football operations at Manchester United.
Fans are furious about ticket price rises.
A charity helping former players has had funding slashed.
And rank-and-file staff – many loyal for years without Premier League salaries – have been swept out with 250 redundancies and warnings of more to come.
Sir Jim has taken the unpopular – but he would argue necessary – decisions to put the club on a healthier financial footing all while INEOS injected an additional £80m.
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The Glazers
Being the face of cost-cutting and eradicating excesses can be reputationally damaging while the American family, still with the majority ownership, drift even deeper into the shadows.
The Glazers are blamed for the malaise and the debt burdened on a club that is one of the biggest money-makers in world football.
Just this week, United’s financial update to the New York Stock Exchange revealed they are set to make more than £650m this season.
But it also showed that the debt has climbed over £730m and has now cost more than £1bn to service in the last two decades.
Money has drained out of the club – to the Glazers – rather than, perhaps, being invested in Old Trafford upgrades or a new stadium as rivals have built glitzier, more lucrative venues.
Sky News US correspondent Mark Stone confronted executive co-chairman Avram Glazer over what has been a difficult year for the Red Devils.
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When asked whether he would sell up the American businessman said: “No.”
He remained silent when asked if he was worried Sir Jim had made things worse, and also didn’t respond when asked if the Glazers should be facing more blame – as opposed to Sir Jim.
The British businessman bought a 27.7% stake in the club in February last year and took control of sporting operations. He later increased it to 29% but the Glazers remain majority owners of the club.
Floundering on and off the pitch
INEOS are now playing catch-up, trying to accelerate much-needed infrastructure upgrades, particularly at the training ground, which saw the women’s team temporarily pushed out.
But United have not been short of cash to spend on players, for the men’s team.
They have the highest net spend of any English club since Sir Alex Ferguson retired in 2013 at over £1.2bn – but without being able to add to the 13th Premier League titles he won.
In the summer and winter transfer windows, INEOS oversaw the arrival of £200m worth of new talent for the men’s team.
And yet the team is in its worst shape ever in the Premier League.
They’ve never been this low during a season – down in 15th place with 12 defeats in 25 matches.
This against the backdrop of decisions that can be viewed as bungled or quickly acknowledging mistakes.
Erik ten Hag was kept on as men’s team manager in the summer after aborting a firing plan following their FA Cup win.
But he went anyway in October – a change that cost £21m when you factor in Ruben Amorim’s release fee from Lisbon club Sporting.
It wasn’t the only hefty compensation bill.
Their pick for sporting director – Dan Ashworth – cost around £2m to prize away from Newcastle United.
But then he was ditched after just five months which, we discovered yesterday in new accounts, cost another £4m.
Fan fury
No wonder the supporters’ trust who protested against the Glazers are now aghast at “mismanagement” by the new leadership while still loading much blame on the Florida-based family.
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And this while they are being asked to pay more to attend matches in fading facilities.
“Fans should not pay the price for a problem that starts with our crippling debt interest payments and is exacerbated by a decade or more of mismanagement,” the United Supporters’ Trust said.
“It’s time to freeze ticket prices and allow everyone – players, management, owners and fans – to get behind United and restore this club to where it belongs.”
INEOS – the petrochemicals giant that turned Sir Jim into a billionaire – has a lot of convincing to show they’re on the right path heading into year two at United.
And there could be the pain to come of seeing Liverpool match their record haul of 20 English titles.
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Can INEOS rebuild a team and oversee the building of a new stadium without losing sight of the mission – to restore United’s greatness?
And the Glazers remain as tight-lipped as ever – but now flush with an extra £1.25bn from selling 29% to Sir Jim as he takes the heat.
