Sir Jim Ratcliffe’s Takeover: A Turbulent Year at Old Trafford
On Christmas Eve in 2023, Manchester United announced Sir Jim Ratcliffe’s minority takeover, marking the beginning of a transformative and often tumultuous year at the club. Ratcliffe, the billionaire owner of Ineos, promised to invest £245 million into Old Trafford, setting the stage for significant changes. His first few months were characterized by a series of high-profile appointments and meetings. In January 2024, Ratcliffe and his right-hand man, Sir Dave Brailsford, were photographed meeting manager Erik ten Hag during a tour of Carrington. Shortly thereafter, Omar Berrada, a prominent figure at Manchester City, was poached to become the new CEO. These moves signaled Ratcliffe’s intent to bring in fresh leadership and expertise.
Early Challenges and Controversies
Ratcliffe’s £1 billion, 27.7 per cent takeover was officially completed in February 2024, but it was not without its early challenges. The departure of former CEO Richard Arnold from the board and the addition of Ineos pair John Rees and Rob Nevin brought a new dynamic to the club’s leadership. One of Ratcliffe’s more peculiar actions came in March, when he banned the use of words like "awesome" and "lukewarm cappuccino" in the club, a move that raised eyebrows and amusement. Despite the initial investments and strategic appointments, the club’s NYSE share price dropped from $20.52 to $13.73 by late March, reflecting investor concerns.
Structural Changes and Financial Reprisals
April 2024 saw a series of structural and financial changes that further impacted the club. Senior staff club credit cards and private cars were cancelled, and football director John Murtough quit. Jason Wilcox was appointed as the new technical director, but only after Southampton agreed to a compensation package. These changes were part of Ratcliffe’s broader strategy to tighten financial controls and streamline operations. However, his efforts to improve the club’s infrastructure were met with mixed results. In May, work finally began on the leaking Old Trafford roof, but the club’s performance on the pitch suffered, finishing eighth in the Premier League, the worst-ever finish in the club’s history.
Staff and Cultural Shifts
Ratcliffe’s approach to staff and club culture was marked by stringent policies and significant changes. In May, he sent an email to employees criticizing the cleanliness at Carrington, describing it as "disgraceful." This move created a "toxic" environment and led to further unrest. Employees were given just one week to decide if they wanted to accept redundancy, and staff were forced to pay for their own transport to the FA Cup final, where they were only given one ticket. Pre-match parties and hotel stays for senior staff were also axed. Despite these challenges, Manchester United surprised their rivals by winning the FA Cup, but the victory was marred by speculation that Erik ten Hag would be sacked regardless of the result.
New Appointments and Strategic Decisions
June 2024 brought a series of strategic decisions aimed at reviving the club’s fortunes. Ratcliffe announced a £50 million plan to upgrade Carrington, and he introduced a strict "back to work" policy, forcing staff to return to the office. However, his comments about the women’s team were met with criticism, and he later apologized. The club finally agreed to bring in Dan Ashworth as sporting director after a four-month gardening leave at Newcastle, who received £3 million in compensation. Erik ten Hag signed a shock new contract extension until 2026, and a new coaching team was assembled, including Ruud van Nistelrooy, Rene Hake, Andreas Georgson, and Jelle ten Rouwelaar. Darren Fletcher’s role was also changed, and Steve McClaren, Mitchell van der Gaag, and Benni McCarthy departed.
Financial Struggles and managerial Overhaul
Despite the investments and new appointments, the club’s financial struggles continued. In August, Manchester United splashed out £199 million in the summer transfer window, but matchday staff lunchboxes were scrapped, and some were forced to eat beside the toilets. The club also stopped paying Sir Alex Ferguson’s £2 million-a-year ambassador salary, and the staff Christmas party was cancelled. The "back to work" policy was costing the club a fortune to convert hospitality suites into temporary offices between home matches. Erik ten Hag’s tenure came to an abrupt end in October, with the club 14th in the Premier League table, costing the club £15 million. Ruben Amorim was appointed the new manager on a deal until 2027 after stumping up a £10 million release clause. However, his first act was to axe coach Ruud van Nistelrooy, and the summer transfer shambles led to a blame game among the club’s chiefs.
Fans’ Protest and Further Setbacks
Ratcliffe’s tenure at Manchester United was further marred by fan protests in December, following the cancellation of OAP and children’s concessions tickets and a significant increase in the minimum home ticket cost to £66. Dan Ashworth was sacked after just five months as sporting director, and the £100 staff Christmas bonus was replaced with a £40 M&S voucher. During Ruben Amorim’s press conference after a 3-0 defeat to Bournemouth, the ceiling started leaking, and reports of a mice infestation at Old Trafford led to a drop in food hygiene ratings. Ratcliffe admitted that the club was "still in the last century" and that its performance was "mediocre," setting the stage for continued challenges and reforms in the coming year.
