A Crisis of Mismanagement: Gary Neville Blasts Glazers
Gary Neville, a former Manchester United player and now a respected pundit, has launched a scathing critique of the Glazer family, the long-standing owners of Manchester United, for what he describes as their "absolute s**tfest of management." Under the new minority ownership of Sir Jim Ratcliffe, the club has implemented harsh cost-cutting measures, including the redundancy of 250 staff members and the potential loss of another 200 jobs. These decisions, while aimed at restoring financial stability, have been met with significant backlash from supporters and former staff alike. Other measures, such as the removal of free meals for staff, the trimming of Christmas bonuses, and the cancellation of charitable donations, including the annual £40,000 given to The Association of Former Manchester United Players, have further strained the relationship between the club and its loyal fan base.
The Financial Toll of Glazer Ownership
Since taking over Manchester United in 2005, the Glazer family has accumulated a staggering £516.5 million in debt, a figure that continues to weigh heavily on the club’s finances. Neville, speaking on the Sky Bet podcast "Stick To Football," emphasized the dire state of United’s finances, stating, "The club’s finances are shot, absolutely shot to pieces." He pointed out that the club had once been the most profitable in football, boasting £350 million in the bank in 2018. However, under the Glazers’ management, this has drastically changed, with the club losing £300 million in just three years. The mismanagement has been compounded by reckless recruitment practices, the exodus of key staff, and the absence of Champions League football, which translates to a significant loss of revenue of around £30 to £50 million per year.
Ratcliffe’s Cost-Cutting Measures
Sir Jim Ratcliffe, who purchased a minority stake in the club, has been the face of these recent cost-cutting measures. While he is taking steps to stabilize the club’s finances, the methods employed have been ruthless and, in some cases, shortsighted. For example, the decision to scrap ticket concessions for children and pensioners and hike home match ticket prices to a flat £66 rate has been particularly unpopular. Despite these measures, the club is still expecting record revenues of between £650 million and £670 million for the year, with earnings before interest, taxes, depreciation, and amortization (EBITDA) forecasted to be at the higher end of the predicted range of £145 million to £160 million. However, these figures do little to assuage the anger and frustration of supporters who feel the club’s financial issues are being unfairly shouldered by them.
The Fallout from Recent Decisions
The financial woes have been further exacerbated by recent high-profile decisions, including the sacking of former manager Erik ten Hag and the recruitment of Dan Ashworth as director of football, only to terminate his contract after just five months. The club spent £14.5 million on these two departures alone, with ten Hag receiving £10.4 million in compensation and Ashworth £4.1 million. Neville and his co-host Ian Wright, a former Arsenal striker, both agreed that these moves are indicative of a deeper, systemic problem. Wright remarked, "They’ve come from America and taken over the biggest club in the country, and at the end of the day, something has to be done." The fan sentiment is that the club feels "scammed" by the Glazers, who retain a 69 percent majority stake and continue to be unpopular figures among the United faithful.
The Fans’ Perspective
The Manchester United Supporters’ Trust (MUST) has been vocal in its criticism of these financial decisions. A spokesperson for MUST stated, "United has among the highest revenues in world football, yet we see huge financial problems in these results." The trust highlighted the club’s significant debt interest payments, mismanagement, and poor performances on the field as the primary issues. The recent increase in ticket prices to £66, which is expected to raise only around £2 million, has been described as "futile and counterproductive." According to MUST, this move only serves to harm fan sentiment and the overall atmosphere at Old Trafford, which could further contribute to the team’s poor performances. The trust urged the club to freeze ticket prices and allow all stakeholders to unite in restoring the club’s former glory.
A Call for Immediate Action
The distressing financial and managerial moves come at a time when Manchester United’s on-field performance is also suffering. The men’s team, under manager Ruben Amorim, currently sits 14th in the Premier League standings, a far cry from the club’s historic dominance. Neville stressed that while the cost-cutting measures are necessary, they should be implemented with more sensitivity and long-term vision. He argued that the club must address its core issues, starting with the excessive debt and the mismanagement that has plagued it for nearly two decades. The call is clear: it’s time for a united front, where players, management, owners, and fans work together to restore Manchester United to its rightful place at the top of English and European football.
