Manchester United in debt – level 2

Manchester United in debt

12-07-2024 07:00

England’s Manchester United had a bad season and lost a lot of money.

The club lost 71 million pounds in the first three months, compared to 5 million last year. Billionaire Jim Ratcliffe bought almost 28% of the club and is now in charge of football operations. Professor Kieran Maguire says that the club lost money for many reasons. They spent 30 million on legal costs for Ratcliffe’s deal. They made less money because they played fewer matches and didn’t do well in competitions. There were also extra costs and more interest expenses.

But Manchester United is still a famous club, and fans believe that it will do better in the future. The club has a new 900-million-pound deal with Adidas. Ratcliffe will try to save money by cutting 250 jobs and changing work rules to improve the club.

Difficult words: season (a period associated with an activity), in charge (in control of, responsible for), legal costs (the money that helps pay for the lawyers).

You can watch the original video in the Level 3 section.

What steps is billionaire Jim Ratcliffe taking to improve Manchester United's financial situation?

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