Sir Jim Ratcliffe will recommend staff cutbacks and further savings once he completes his £1.3billion deal for a 25 per cent stake in Manchester United, according to reports. The INEOS founder is preparing to oversee changes at Old Trafford in line with the petrochemicals giant’s successful structure.
Sir Jim won’t enter power until the New Year as the complexities of negotiations continue to delay an official announcement of the deal.
Even if United confirm the 71-year-old’s minority investment before Christmas, it will take a further six to eight weeks to be ratified by the Premier League.
But INEOS underwent due diligence during the takeover process, and their findings could spark change behind the scenes once Ratcliffe earns a seat on the board.
According to the Mail, Ratcliffe believes that United are overstaffed in several departments and that a restructuring is required to make the club more streamlined.
He is set to recommend efficiency savings at Old Trafford, including cutting the 1100-plus employees on United’s payroll.
The Red Devils’ staff count reportedly soared from around 800 to 1112 this year due to significant investment in the commercial and digital areas of the organisation.
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But some figures within the walls of Old Trafford are said to have privately admitted that United’s staff count – by far the largest in the Premier League – has become a problem.
In comparison, Liverpool employ around 900, Tottenham Hotspur 750, Manchester City 720 and Arsenal 700.
INEOS generate an annual turnover of over £50bn with around 25,000 employees around the globe, significantly contributing to Ratcliffe’s riches.
That said, INEOS’ sporting sector is renowned throughout the industry for its compact nature, containing a relatively low staff count.
The report adds that Ratcliffe is set to vouch for a similar approach from United, who have suffered as a result of an inferior off-field operation for the last decade.
He doesn’t solely want to cut costs but will recommend the change with the belief that a leaner operation can encourage increased levels of accountability and more clarity of purpose.
Ratcliffe and INEOS’ impending arrival has understandably drawn attention towards the next stage of Erik ten Hag’s rebuild, with plenty of upgrades needed throughout his playing squad.
However, how the Failsworth-born businessman and his trusted confidants apply themselves off the pitch should have the biggest impact in M16.
