Manchester United has lost £300 million over the past three years, but Sir Jim Ratcliffe believes eliminating approximately 200 more jobs will help the club avoid going bankrupt.
United insiders have said the club would have run out of cash without the $300m (£240m) Ratcliffe injected last year. The goal is for the club to be profitable in two years.
Additional cost-reducing measures taken by Ratcliffe include ending Sir Alex Ferguson’s ambassadorial role despite the Scot being United’s most successful manager during a 26‑and‑a‑half‑year tenure. He was paid about £2 million annually.