The Glazer Family’s Response to INEOS’ Job CutsThe Glazer Family’s Response to INEOS’ Job Cuts Following the announcement of job cuts at Manchester United, insights have emerged regarding the Glazer family’s perspective on Sir Jim Ratcliffe’s INEOS group. INEOS, which acquired a 27.7% stake in United earlier this year, has implemented significant changes at Old Trafford. New faces have been brought in, including Jason Wilcox as technical director and Omar Berrada as CEO. Dan Ashworth and Christopher Vivell are expected to assume roles as sporting director and director of recruitment, respectively. Recently, it was revealed that United plans to reduce its workforce by nearly a quarter. This decision reportedly stems from INEOS’ focus on first-team performance and the need to comply with Premier League financial regulations. Despite these radical changes, The Athletic reports that the Glazer family has not opposed INEOS’ actions. The family has entrusted INEOS with control over both business and football operations, outsourcing these responsibilities. This suggests that the Glazers are satisfied with INEOS’ initial performance and have granted them the freedom to make significant alterations. Time will tell how these changes will ultimately impact Manchester United’s future.
The Glazer family’s thoughts on Sir Jim Ratcliffe and INEOS have been revealed following an announcement about job cuts at Manchester United.
At the start of 2024, Sir Jim Ratcliffe’s £1.3bn takeover of 27.7 per cent of Manchester United was finalised and confirmed. Since then, his company, INEOS, has overseen a raft of changes, taking almost complete control of day-to-day operations at Old Trafford.
While former CEO Richard Arnold and former director of football John Murtough have both left the club, new faces have arrived. Southampton’s Jason Wilcox is the club’s new technical director, while Omar Berrada starts as the new CEO on 13 July.
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Dan Ashworth was recently appointed as United’s new sporting director, while former Chelsea technical director Christopher Vivell is expected to take over as director of recruitment at Old Trafford for the next two transfer windows.
The big news from the Daily Mail on Wednesday afternoon revealed that the club is to lay off almost a quarter of its current workforce. During a series of meetings early this morning, club staff were informed that up to 250 of the 1,100 employees would lose their jobs.
The report further explained that two key factors behind the decision were the arrival of INEOS at the club and the priority given to first-team performance at United. The amount of money expected to be saved through the forthcoming cost savings is expected to run into tens of millions.
This money will instead be invested in Erik ten Hag’s squad. Compliance with the Premier League’s controversial Profit and Sustainability (PSR) rules is also said to have played a role.
INEOS have made more radical changes to United in their first six months at Old Trafford than the Glazer family have done in a decade. Although they still own the majority of the shares, they seem to have been sitting on their hands.
While some may believe that the Glazers will eventually step in and block some of the current changes, a recent report from The Athletic has shed some light on how the American family feels about INEOS’ actions to date.
According to The Athletic, the Glazer family have effectively outsourced control of the club’s business and football operations to INEOS. They have not opposed the sweeping changes made to the way the family previously ran the club, suggesting they are perfectly happy with the initial results of their partial sale of the club.
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