The recent acquisition of a stake in Manchester United by INEOS has led to significant changes within the club’s leadership and operations. Initially, it was expected that INEOS would only have control over the club’s football operations, with the Glazer family retaining economic control. However, it quickly became apparent that INEOS had broader aspirations for the club.
At an all-staff meeting in January, it was revealed that INEOS would have a more substantial role in decision-making, including potential refurbishment or rebuilding of Old Trafford. This raised questions about how the front office would be structured and whether there would be a clash between executives loyal to the old regime and those recruited by INEOS.
Recently, Manchester United announced the departure of interim chief executive Patrick Stewart and chief financial officer Cliff Baty at the end of the season. While Stewart’s departure was expected due to the recruitment of Omar Berrada as the new chief executive, Baty’s replacement by Roger Bell, who previously served as CFO of INEOS Sport, raised eyebrows.
This change suggests that the Glazer family has outsourced financial and football management to individuals within INEOS’ circle. It highlights the trust placed in Sir Jim Ratcliffe, the billionaire owner of INEOS, to bring commercial and on-field success to the club.
The executive leadership team (ELT) that was in place under the Glazers has seen significant turnover since INEOS acquired a stake. This includes the departures of CEO Richard Arnold, football director John Murtough, CFO Baty, and interim CEO Stewart. These individuals had ties to the previous regime or the Glazers.
INEOS has been pushing for changes within Manchester United’s operations, including a revamp of the club’s method of recruiting footballers and a review of costs. This has led to decisions impacting staff members, such as taking away company credit cards and requiring employees to pay for travel to events. INEOS believes that the club’s workforce is bloated and is creating insecurity among employees.
The departures of Stewart and Baty were made by “mutual consent,” but there are rumors of tensions between INEOS and the executives. It remains to be seen how these changes will affect the club’s future, but INEOS is determined to implement its vision for Manchester United.
Despite the upheaval in the boardroom, there are ongoing deliberations over the future of manager Erik ten Hag. INEOS believes that the executive team above him has not provided him with the best chance of success, but there are also financial considerations and a lack of clear alternatives. For now, Manchester United is planning with ten Hag in mind for next season, but INEOS will not hesitate to make changes if necessary.
Overall, the acquisition of a stake in Manchester United by INEOS has led to significant changes within the club’s leadership and operations. While there is optimism about the ambitious and decisive leadership of Sir Jim Ratcliffe, there are also concerns about the impact of these changes on staff members and the future direction of the club.