Man Utd ‘admit they ARE at risk of PSR breach and ask FANS to foot the bill amid £300m black hole in shock letter’
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MANCHESTER UNITED have admitted they are at risk of breaching PSR in a shock letter written to their fan groups. The club posted losses before tax of £312.9million over the last three years. Sir Jim Ratcliffe has since implemented cost-cutting measures including reducing the salaries of club ambassadors Denis Irwin, Andy cole and Bryan Robson.
The club state in a letter to The 1958 fan group that the current level of losses is not sustainable - with PSR (profit and sustainability rules) limiting clubs to a total loss of £120m across three years. United are seeking ways to avoid a breach which could mean selling an academy graduate as they guarantee pure profit - Alejandro Garnacho has been heavily linked with a move to Chelsea this month.
And they have now written to fans' groups after they voiced concerns that the need to cut losses could result in ticket prices increasing. Earlier this season United introduced a flat rate ticket for members costing £66, without consulting fans. A letter sent to The 1958 and FC58 Coalition read: “As previously communicated, we are however currently making a significant loss each year – totalling over £300 million in the past three years. This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP [financial fair play] requirements in future years and significantly impacting our ability to compete on the pitch.