Manchester United have admitted they’re at risk of a PSR breach and Red Devils could see ticket prices risk as Sir Jim Ratcliffe looks to foot the bill
Manchester United have admitted they’re at risk of breaching profit and sustainability rules.
The Red Devils have posted losses before tax of £312.9 million over the past three seasons and have implemented a series of drastic cost-cutting measures since Sir Jim Ratcliffe took the reigns. As part of Sir Jim’s cost-cutting measures, United introduced a flat-rate £66 ticket for members with no prior consultation with fans.
In a letter to The 1958 fans group, United outlined their financial position, according to The Telegraph. “We are determined to ensure that our current fans can continue to afford to attend games and that tickets are accessible for future generations of fans,” the club said.
“As previously communicated, we are however currently making a significant loss each year, totaling over £300 million in the past three years. “This is not sustainable and if we do not act now, we are in danger of failing to comply with PSR/FFP [financial fair play] requirements in future years and significantly impacting our ability to compete on the pitch.
“We will get back to a cash-positive position as soon as possible and we will have to make some difficult choices to get there. That has included a significant reduction to our workforce as well as cuts across many areas of spend across our club.
“None of this has been easy, but we believe it is essential to restoring financial sustainability to the club, which will underpin us as we work to get back to the top of English and European football.
“We do not expect fans to make up all the current shortfall, but we do need to look at our ticketing strategy to ensure we are charging the right amount and offering the right discounts across our products for our fans.
Speaking to fanzine United We Stand last month, Sir Jim admitted he didn’t “want to end up in a position where the genuine local fans can’t afford to come.”
However, he added, “You can’t be popular all the time” and said it did not make sense for a United ticket “to cost less than a ticket to see Fulham.”
