Co-owner of Manchester United Jim Ratcliffe said that the club could have gone bankrupt if it had not resorted to mass layoffs of club employees.
Jim Ratcliffe“Over the last 7 years, the club has spent more than it has earned. If this continued further, by the end of 2025, "United" would have run out of money. This is the first time we are stating this publicly. The club would have gone bankrupt by Christmas if there had not been changes and we had not implemented cost-cutting projects. We reduced the costs of running the club by about £125 million, this changed the situation,” Ratcliffe is quoted by The Telegraph.
