Manchester United paid a total of £14.5million (€17.5m) to sack manager Erik ten Hag, sporting director Dan Ashworth and other members of football staff, the club's latest accounts show.
This has been a painful season for the Premier League club, with the 20-time league champions languishing a lowly 15th in the standings following Sunday's 1-0 loss at Tottenham.
Ruben Amorim has failed to spark an upturn as successor to Ten Hag, who was sacked in October and just 116 days after United triggered a clause to extend his contract until 2026.
That costly decision by Ineos was compounded by the swift exit of Ashworth, who arrived from Newcastle on 1 July after prolonged negotiations only to leave on 8 December.
The financial impact of those decisions was confirmed in United’s results for the quarter ending 31 December under 'exceptional items’.
"Exceptional items for the quarter were a cost of £14.5 million," the corporate release from the club said.
"This relates to costs associated with the departure of former men’s first team manager Erik ten Hag and various members of football staff."
United confirmed in their first quarter results that the pay off to Ten Hag and his staff was £10.4m, indicating Ashworth’s exit cost £4.1m.
The 1958 fan group said the second quarter figures made for "grim reading" as they prepared to protest before the Arsenal fixture on 9 March.
The Manchester United Supporters' Trust, meanwhile, said the latest figures "lay bare the scale of the financial mismanagement" at the club.
"Fans should not pay the price for a problem that starts with our crippling debt interest payments and is exacerbated by a decade or more of mismanagement," the supporters’ group statement read.
"It’s time to freeze ticket prices and allow everyone – players, management, owners and fans – to get behind United and restore this club to where it belongs."
Meanwhile Arsenal made an overall loss of £17.7m (€21.4m) in the 2023-24 financial year despite record revenue after wage costs increased nearly 40% as the Premier League club announced their financial results on Wednesday.
The club had a 32% increase in revenue from 2023 (£466.7m) to £616.6m thanks to their return to the Champions League, where they reached the quarter-finals, as well as a strong performance in the Premier League where they finished second.
The return to Europe's top tier tournament meant matchday revenue increased to £131.7m compared to £102.6m in the previous year while broadcasting revenue rose to £262.3m.
The club's wage bill increased to £327.8m, which was a significant increase from £234.8m in 2023.
"The increase was mainly driven by investment in player wages in both men's and women's teams. There was also an impact from increased commercial and operational headcount," the club said in a statement.
The North London club are second in the league this season, seven points behind Liverpool, while they are also through to the last 16 of the Champions League.
Additional reporting: Reuters
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