MANCHESTER, England — Manchester United expects to cut around a further 200 jobs as part of cost-cutting measures following five straight years of losses, the club said Monday.

United reported around 250 redundancies in a first wave of savings last year, after British billionaire Jim Ratcliffe paid $1.3 billion for an initial 25 percent stake in the club and assumed control of its soccer operations.

"This will create a more solid financial platform from which the club can invest in men's and women's football success and improved infrastructure," the statement said.

"As part of these measures, the club anticipates that approximately 150 to 200 jobs may be made redundant, subject to a consultation process with employees. These would be in addition to the 250 roles removed last year."

United CEO Omar Berrada said the wide-ranging measures were being implemented to "transform and renew" the club.

"We have a responsibility to put Manchester United in the strongest position to win across our men's, women's and academy teams," Berrada said. "We are initiating a wide-ranging series of measures that will transform and renew the club.

"Unfortunately, this means announcing further potential redundancies, and we deeply regret the impact on those affected colleagues. However, these hard choices are necessary to put the club back on a stable financial footing."

United said it is aiming to "return the club to profitability after five consecutive years of losses since 2019".

"This cannot continue," Berrada said. "Our two main priorities as a club are delivering success on the pitch for our fans and improving our facilities. We cannot invest in these objectives if we are continuously losing money.

"At the end of this process, we will have a more lean, agile and financially sustainable football club, while continuing to provide a world-class service to our valuable commercial partners.

"We will then be in a much stronger position to invest in football success and improved facilities for fans, while remaining compliant with UEFA and Premier League regulations."

The restructuring plan includes an end to free lunches for staff in the Old Trafford canteen in a bid to save more than a million pounds ($1.26 million) a year.

In addition to cuts, United raised its lowest-priced tickets to 66 pounds ($81) partway through the season, up from 40 pounds ($49).

On the field, United — the record 20-time English champion — is having one of its toughest seasons in a generation.

The team is in 15th place in the 20-team Premier League, having lost 12 of its first 26 games and won just eight.

Accounts released by the club last week showed it paid a total of 14.5 million pounds ($17.5 million) to get rid of manager Erik ten Hag, sporting director Dan Ashworth and other members of soccer staff.

Ruben Amorim was appointed as United boss in November following Ten Hag's sacking, but he has been unable to reverse the decline of the team.

United's women's side has enjoyed more success this season, with the team second in the Women's Super League table.

Despite its financial struggles, Manchester United was fourth in Deloitte's annual Football Money League of the world's richest clubs, published last month.

Agencies