Manchester United are exploring an early exit from their 10-year lease at their Kensington offices as part of cost-cutting measures led by Sir Jim Ratcliffe.
The club moved into the 23,000-square-foot space less than two years ago, but with Ratcliffe pushing to base most staff in Manchester, the office is now considered unnecessary.
The Guardian reports that while downsizing is an option, leaving the building entirely is the likeliest outcome.
United’s transformation plan, announced last week, includes 150-200 job redundancies and a reduction in London-based staff.
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The club has confirmed it will maintain a presence in the capital, but at a smaller location.
The Kensington office, less than a mile from INEOS’ headquarters, was originally leased before Ratcliffe’s arrival.
However, he has largely preferred to conduct business from INEOS’ own offices instead.
United first opened a London office 15 years ago to expand their commercial operations.
A move since followed by Liverpool, Manchester City, Everton, and Leeds.
Under former executive chairman Ed Woodward, senior figures – including transfer negotiator Matt Judge – were primarily based in the capital.
But since Woodward’s departure, the club has shifted operations back towards Old Trafford and Carrington.
INEOS’ broader financial strategy under Sir Jim Ratcliffe
The Guardian also reports that United’s latest cost-cutting measures have already seen the club shut down the Old Trafford staff canteen, replacing free lunches with fruit.
Some employees will be relocated from Old Trafford to Carrington due to space limitations.
Sir Jim Ratcliffe has also introduced financial restrictions across his INEOS businesses.
He recently pulled out of a sponsorship deal with New Zealand Rugby.
As well as cutting ties with Sir Ben Ainslie’s America’s Cup team.
Now, his focus is on making United financially efficient, with closing the Kensington office one of the next steps.
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