How much it cost Manchester United to sack Ole Gunnar Solskjaer
Manchester United paid around £10 million in remuneration to Ole Gunnar Solskjaer and part of his coaching staff.
The Norwegian was fired in November following a spate of poor results, culminating in a 4-1 loss at relegation-threatened Watford.
Solskjaer received a pay-off of roughly £7.5 million, but his entire compensation package was larger, and members of his coaching staff received compensation payments as well, but their names and sums were not released.
In the weeks following Solskjaer’s departure, Michael Carrick, Kieran McKenna, and Martyn Pert also left. After three games as caretaker manager, Carrick departed the club, and McKenna was hired manager of Ipswich Town, taking Pert with him.
United reported ‘extraordinary items’ of £10 million in their latest reports, which cover the period up to December 31, almost all of which was spent on compensation settlements.
“Exceptional items for the quarter were a cost of £10 million,” according to a statement in the most recent accounts. This cost includes compensation for the loss of office for the former men’s first team manager and certain members of the coaching staff, as well as additional contributions we plan to make to the Football League pension fund shortfall based on the most recent actuarial valuation.”
United made a profit of £5.4 million during the three-month period, and revenues increased by 7.3 percent, owing mostly to the return of supporters to Old Trafford.
“For the second fiscal quarter of 2022, we achieved significant revenue growth of 7.3 percent despite the postponement of two matches in the quarter due to COVID-19,” said Cliff Baty, Chief Financial Officer.
“The results reflect the sustained strength of our sponsorship income, which have been bolstered by record-breaking digital fan engagement, as well as the resumption of more normalized matchday operations.” We are optimistic about the remainder of the fiscal year.”