Man Utd staring £10million black hole in the face as Sir Jim Ratcliffe slashes £40k donation to charity helping legends
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Sponsored by. MANCHESTER UNITED are set to lose out on £10m in expected income if they continue on their current trajectory. The Red Devils are in dire form and currently languishing in 14th place in the Premier League. Ruben Amorim is yet to turn things around on the pitch with a third consecutive defeat on Thursday leaving United some 12 points off fourth placed Nottingham Forest.
It now looks extremely unlikely that Man Utd will qualify for the Champions League this season, a failure that could have a huge impact on the club's finances. According to The Times, United's contract with kit manufacturer Adidas contains a penalty clause that sees them lose out on £10MILLION for every season they fail to qualify for Europe's elite competition.
That hefty loss would be coupled with huge amount of losses in broadcasting and match-day income too. United are already flirting with breaching Financial Fair Play (FFP_ regulations and have undergone a number of cost-cutting measures since the arrival of Ineos chief Sir Jim Ratcliffe.
Sun Sport exclusively revealed Ratcliffe and the club cut funding to the Association of Former Manchester United Players, a charity set up in 1985 o help footballers from bygone eras who earned nothing like the megabucks of today’s superstars. While Ratcliffe's other cost-cutting measures have included cancelling senior staff members' credit cards, stopping staff from using private cars and even asking Man City if they could give United players a lift to the Ballon d'Or in their private jet.