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Manchester United’s poor financial shape may likely be a major factor behind the hierarchy’s reluctance to sack the underperforming Erik ten Hag.
Ten Hag is hanging on to his job by a thread, amidst United’s extremely poor start to the 2024/2025 season.
The Dutchman barely retained his position in the Old Trafford dugout over the summer following a disappointing 2023/24 season, with the FA Cup final victory against Manchester City at Wembley being a key factor in his survival.
It’s believed that United held exploratory talks with his potential replacements including Thomas Tuchel, Roberto De Zerbi, Marco Silva, Mauricio Pochettino and others but ultimately, the decision was made to afford him more time to turn the situation around.
However, the struggles of the current season have reignited speculation about Ten Hag’s future at United. The Red Devils currently sit in14th place in the Premier League, having won only two of their first seven top-flight fixtures.
United have just eight points to their name and are 19th in the division for goals scored, with just five. Statistically, it’s the club’s worst-ever start to a Premier League season.
Ten Hag somehow survived the executive meeting of United’s decision-makers in London on Tuesday. There were suggestions that the summit would result in his sacking but it appears that the 54-year-old is set to be in charge for the home clash against Brentford immediately after the international break.
However, according to the Manchester Evening News, there are a number of issues – including financial ones – that are currently keeping Ten Hag in place.
Tyrone Marshall explains, “On the evidence of this season, it’s a surprise Ten Hag continues to cling on, but there are several factors going into this decision. At Sir Jim Ratcliffe’s Knightsbridge offices, United’s part-owner sat with Joel Glazer and listened to arguments for and against sticking with the under-pressure Dutchman.”
“It isn’t as simple as casting an underperforming manager adrift. The candidates to replace Ten Hag aren’t entirely convincing, and the merits of most of them were discussed in the summer. Then there are the finances.”
“That one-year extension to his contract activated in July has increased the payout Ten Hag is likely to receive if he is dismissed to around £14m to £15m. That is a substantial sum to a loss-making football club that continues to skate close to the edge of financial rules imposed by UEFA and the Premier League.”
MEN adds, “They passed the three-year PSR monitoring period, allowing losses of £105m from 2021 to 2023, but that required some creative accounting when it came to the allowable deductions. This is a club that has made a loss for five years in a row – most recently £113.2m.”
United have accumulated losses of more than £370m over the last five years and while Ratcliffe is putting measures in place to make the 20-time English champions profitable once again, they’re hardly in a position to part with £15m on firing the manager.
This may also force United to look at coaches such as Graham Potter and Thomas Tuchel, who are free agents, meaning no compensation is required to bring them in from rival outfits.
The other thing to consider is of course the fact that keeping Ten Hag may damage United’s hopes of clinching Champions League football.
A top 4 finish looks like a tall order but there is a way into the continent’s most prestigious competition via the Europa League.
This is something Sir Jim Ratcliffe and the new leadership group at United will certainly have to weigh up as they think about whether or not to pull the trigger.
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