Rio Ferdinand, the celebrated Manchester United icon, hasn’t held back his criticism of INEOS, the new part-owners of the club, as their once stellar reputation seems to be unraveling.
As Manchester United sits uneasily in 15th place in the Premier League, the initial enthusiasm that welcomed Sir Jim Ratcliffe and his group, who acquired a 27.7% stake last year from the Glazers, has significantly faded—even in the eyes of Ferdinand himself.
During an episode of his show, “Rio Presents,” the former United defender expressed his candid thoughts on the current ownership situation.
“INEOS couldn’t have entered the scene at Old Trafford under better circumstances,” he remarked. “The fans were staunchly opposed to the Glazers and had been for ages. So initially, they were on pretty solid ground walking in.”
INEOS seized control of the football operations and significantly invested in reinforcements for manager Erik ten Hag during the previous summer. However, their decision to retain the Dutchman, only to sack him at great expense a few months into the season, has drawn widespread criticism.
Following Ten Hag’s exit, the group splurged on Ruben Amorim and a new coaching team, despite knowing this would entail adopting a completely different playing style, necessitating different player types.
All this unfolded amid a wave of cost-cutting measures within the club, creating a sense of discontent, as it appeared INEOS targeted everyday staff instead of the millionaire players.
Ferdinand reflected, “They’ve quickly eroded the goodwill they once had with some of their actions. Slashing jobs among the staff leaves me pondering, ‘Could they have approached things differently?'”
“Couldn’t they have approached the Glazers to say, ‘Hey, can we perhaps reduce the management fee you draw yearly?’—which amounts to millions. Ask them to give up a bit there, for the sake of this club they’ve invested so much time in, and grant us a chance to reclaim the top spot.”
There’s speculation that INEOS did request the Glazers to waive their dividends, but Ferdinand’s remarks resonate with the lingering discontent among fans and the undeniably tense atmosphere surrounding the club.
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