Sir Jim Ratcliffe is thinking about ending the lease for Manchester United’s offices in London’s Kensington. The lease is for 10 years.
Since becoming a co-owner of Manchester United in February, Ratcliffe has been putting in place several ways to save money.
About 250 employees have already lost their jobs, and more job losses are expected in the coming weeks.
Ratcliffe also plans to stop free lunches for staff at Old Trafford and reduce food choices at Carrington to just soup and sandwiches.
Amidst the ongoing problems at United, both on and off the field, the British billionaire is planning his next cost-saving measure.
It has been reported that Ratcliffe and his team are looking into ending the 10-year lease early for their London offices.
Man Utd’s London office is located in Kensington, which is not far from Kensington Palace.
The club moved into this office space less than two years ago after their previous 10-year lease in Mayfair ended.
However, Ratcliffe thinks that most club employees should be based in Manchester. Because of this, he believes the 23,000-square-foot office is too big and expensive.
In the “transformation plan” announced last week, Manchester United said they would keep a presence in London.
However, this means they will need to find a new, smaller office space.
Staying in their current location but using less space is also possible, but not preferred.
Manchester United’s current office building in Kensington is close to the Ineos headquarters in Knightsbridge.
However, this closeness is not likely to change Ratcliffe’s mind.
Currently, Man Utd is 14th in the Premier League table with 33 points from 27 games.
Marcus Bellamy