Manchester United finances calculated on 'Europa League qualification over next four years' amid more job cuts
Man Utd have announced they will be cutting even more jobs to reduce their staffing numbers and raise funds.
Manchester United have reportedly calculated their new financial outlook on the basis that they will be participating in the Europa League across the next four seasons. United have confirmed a further 200 members of staff could be made redundant in the latest round of cost-cutting measures after they cut their workforce by almost a quarter last year. During the last redundancy period, 250 staff lost their jobs and they expect approximately 150-200 further jobs may be cut this year.
United held a staff meeting on Monday to announce the plans to solve their financial issues after the club posted five consecutive years of losses since 2019. The club claims these cuts will create a more solid financial platform to invest in men’s and women’s football success and improved infrastructure.
It was earlier revealed in the day United will close its staff canteen and offer employees a free piece of fruit in a further effort to cut costs. United have lost £300million in the past three years and Jim Ratcliffe is intent on reducing costs to comply with the Premier League's profitability and sustainability rules.
Manchester United plan for Europa League qualification
In order to calculate their new financial outlook, United have reportedly come to terms with the fact they are unlikely to be a regular in the revamped Champions League but are still focused on participating in the Europa League at the very least.
A report from The Athletic claims 'the costs and savings associated with these measures have been calculated under the assumption that United qualify for the Europa League for the next four years.' United are currently 15th in the Premier League table and their only realistic chance of qualifying for the competition next season would be to win the FA Cup again. United could yet qualify for the Champions League if they win the Europa League, though that seems like a tough ask given their poor performances and current injury issues.
The report adds that 'failing to do either would only create an even deeper hole than the one the club is currently accounting for,' and could lead United to make further cost-cutting measures than they have currently proposed.
In addition, it is understood each place in the Premier League table is worth roughly £3 million as part of prize money calculated from various TV deals. If United finish as low as 15th, it would represent a £20 million reduction on their 8th-place finish last season.