Man Utd axe staff meals and close canteen - it will pay Casemiro’s wages for three weeks
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Manchester United's latest cost-cutting measures includes getting rid of free staff meals and closing the canteen - a move which will save £1million.
Omar Berrada appeared to suggest the club had cracked how to transform the failing club's fortunes, to 'create a more solid financial platform from which the club can invest in men’s and women’s football success'. For now, it is not to avoid paying off managers who recently signed contract extensions or to bypass spending millions to part ways with a sporting director it had cost millions to land less than a year ago.
Old Trafford is home to the largest net spend on transfers over the last decade with costs over £1billion not coming close to setting up the club for a period of success. Avoiding the cost of significant interest fees on rocketing transfer debt might not quite be on the agenda yet either.
The answer for now is to blame the club's financial standing on a bloated and inefficient workforce. After already making 250 members off staff redundant last year, it was confirmed 150-200 more would made way.
The removal of free lunches for staff at Old Trafford and Carrington will also see the club protect their finances. The staff canteen at the stadium is set to close imminently, with free fruit on offer instead.
At the training ground only players will continue to receive meals while staff members are entitled to soup and bread. Though that will not be enforced until after its renovation.
“These hard choices are necessary to put the club back on a stable financial footing,” Berrada said. “We have lost money for the past five consecutive years. This cannot continue. Our two main priorities as a club are delivering success on the pitch for our fans and improving our facilities. We cannot invest in these objectives if we are continuously losing money.”
United's race to the bottom of half of the Premier League has admittedly made it difficult to sell players without suffering significant financial losses. But reducing their lunchtime offering is claimed to save £1m, which will just about cover Casemiro's wages for three weeks.
Last week saw the club reveal a loss of £27.7m in their second quarter results. United have lost more than £300m over the last three years, with the recent filing showing 'exceptional items' costing £14.1m - including fees in the region of £4m and £10m to cover the exits of Dan Ashworth and Erik ten Hag. Shutting the canteen and axing meals is worth just 6.7 percent of that total outgoing.
Manchester United were recorded to be home 1,140 employees in June 2024, meaning following a possible 450 redundancies, the club will have waved goodbye to 39per cent of its workforce since the arrival of INEOS.
While looking after the pennies ensure that the pounds look after themselves, United's £1m saving on lunch pales in comparison to the debt they are burdened by. A summer of business which has seen the club continue fall down the Premier League has left the club with an additional £60m in unpaid transfer fees, to take the total to £391m.
The club also have £337m due for repayment by June 2027. With that debt accruing interest at 3.79 per cent, a figure likely to double when it is refinanced it is said, the club are expected to foot the bill for £50m-per-year in interest, or 50 years worth of hot meals, every year.
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Daily Mirror