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The corporate cards of senior Manchester United figures have reportedly been cancelled as Sir Jim Ratcliffe’s ruthless campaign to cut costs at the club continues.
Ever since Ratcliffe’s partial 27.7% investment into United got over the line, the British businessman has wasted no time in thoroughly auditing the club in an effort to improve operations.
Last month, The Peoples Person covered a report which stated that the INEOS billionaire appointed corporate restructuring firm Interpath Advisory to undertake a cost-cutting exercise that could almost certainly result in hundreds of employees losing their jobs.
It was relayed that INEOS believe that some departments at Old Trafford could do with major restructuring and the club as a whole could be run better by being leaner.
Ratcliffe is also thought to be keen on ensuring that the Red Devils comply with the Premier League’s Profit and Sustainability Rules.
Last summer, United were slapped with a hefty £257,000 fine following a minor breach of UEFA’s financial sustainability regulations.
According to ESPN, Ratcliffe has gone a step further and has moved to cancel the corporate cards of top club chiefs.
“A club source confirmed that the review has led to heads of department having their corporate credit card accounts stopped in order to change the culture and become more cost-focused and disciplined at the same time as focusing the maximum possible resource on football objectives.”
“Sources told ESPN that heads of all departments at United are also expected to meet Interpath consultants to assess departmental budgets and explore ways to save money and improve outcomes.”
Mark Ogden explains that Interpath’s review will carry on for weeks and the first phase of the process has so far focused on suppliers, utilities and travel costs.
Interpath’s jurisdiction does not extend to United’s transfer business and activities in the market.
However, the results of their mandate will likely have a direct influence on how much money the 20-time English champions can afford to spend on recruits both in the summer and in future transfer windows.
Ratcliffe’s decision to cancel executives’ corporate cards undoubtedly comes as a positive development in the eyes of supporters. INEOS are certainly showing that they mean business as they seek to restore United back to the pinnacle of English football once more.
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