Manchester United has spent a total of £14.5 million ($18.3 million) in compensation to former manager Erik ten Hag, sporting director Dan Ashworth, and other football staff, according to the club’s latest financial report.
The financial accounts, released on Wednesday, showed that Ten Hag and his staff received £10.4 million after his sacking in October, just 116 days after his contract was extended until 2026. Ashworth’s departure on December 8 cost the club approximately £4.1 million.
United’s financial losses have mounted, with a £27.7 million deficit recorded for the quarter ending December 31. A 42% drop in broadcasting revenue to £61.6 million, attributed to playing in the Europa League instead of the Champions League, has further strained the club’s finances.
The club’s new manager, Rúben Amorim, has struggled to turn things around, with United currently languishing in 15th place in the Premier League. Unless they win the Europa League, the team is expected to miss out on Champions League revenue again next season, potentially limiting Amorim’s transfer budget.
Since British billionaire Jim Ratcliffe acquired a minority stake, United has implemented cost-cutting measures, including over 200 job cuts, increased ticket prices, and the removal of Sir Alex Ferguson’s reported £2 million-a-year ambassador role.
United CEO Omar Berrada acknowledged the club’s struggles, stating, “We recognise the challenges in improving our men’s team’s league position, and we are all working hard, collectively, to achieve that.”
