Manchester United in debt – level 1
12-07-2024 07:00
Manchester United has a terrible season. The club loses a lot of money.
They lose 71 million pounds in the first three months of the year. Last year, it is only 5 million pounds. A rich man named Jim Ratcliffe buys part of the club. He is now responsible for many things in the club. The club loses money for many reasons. They spend 30 million pounds on costs for Ratcliffe’s lawyers. They make less money because they play fewer matches and do not do well in competitions.
But Manchester United is still a famous club. They have a new deal with Adidas. It is worth 900 million pounds. Ratcliffe will try to save more money. He plans to cut 250 jobs and change work rules to make the club better.
Difficult words: season (time during which an activity happens), competition (a game or match to win a prize), worth (for how much money you can buy something).
You can watch the original video in the Level 3 section.
What steps is Jim Ratcliffe taking to try and improve Manchester United's financial situation?
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