Man Utd fans furious over latest reported Sir Jim Ratcliffe decision as 'depressing' plan slammed
Manchester United minority co-owner Sir Jim Ratcliffe is reportedly planning to announce more fresh funding cuts - and fans have been left furious.
The British billionaire recently increased his stake in the club from 25 per cent to 28.94 per cent, as part of a pre-existing agreement signed with the Glazers when he took minority control of the club last year.
He has invested a further £79.3 million into the club - the final part of a guarantee that he would put £238 million into infrastructure.
It was originally announced last year that INEOS would take control of footballing operations, though The Athletic reported in January that United staff had been informed that their role would have a wider scope and include some commercial decisions.
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Ratcliffe has reportedly implemented a number of cost-cutting measures since his arrival, an approach that has in part mirrored how INEOS have operated in restructuring their other organisations.
Around 250 jobs have been cut since the British billionaire's arrival, according to the Daily Mail, while he is also said to have scaled back Christmas bonuses received by staff. The i Paper reported that bonuses received by stewards have also been cut. United are yet to comment officially on these claims.
Now, Sky News' City business editor Mark Kleinmann reports that United are set to announce that they will cut funding provided to the club's charitable arm, the Manchester United Foundation.
The Foundation works in local communities around Manchester to educate and support marginalised and underprivileged young people using football, and also holds sessions in local schools.
It also works closely with charities to organise 'Dream Days' for children with life-limiting illnesses, where they get the opportunity to meet members of the first team squad and spend a day at the Carrington training ground and Old Trafford.
Sky claim that United provided close to £1 million to the Foundation in benefits last year, including nearly £175,000 for charity services. However, it is reported that they are planning to scale this back.
A club insider told Sky that United would still provide 'significant support' to the foundation, adding: "All areas of club expenditure are being reviewed due to ongoing losses.
"However, significant support for the Foundation will continue."
A spokesperson for the Manchester United Supporters' Trust said that the prospect of cuts is 'another depressing example of the wrong priorities at United, cutting back on support to the community it purports to serve'.
United declined to comment in an official capacity when approached by Sky News. SPORTbible has also approached Manchester United for comment.
Topics: Fan Reactions, Sir Jim Ratcliffe, Man Utd
Ryan Smart