Less than a week after revealing plans to construct a new stadium for £2 billion ($2.6 billion), Manchester United has announced increases in ticket prices for the upcoming season.
While some senior ticket concessions have been eliminated, tickets for fans under the age of sixteen have been frozen.
In an effort to boost revenue, the team has also decided to sell hospitality tickets for some of the seats near the Old Trafford benches.
According to Sir Jim Ratcliffe, a co-owner, United would have gone bankrupt “by Christmas” if he had not made the investment and implemented several cost-cutting measures, such as firing 450 employees.
A day later, the 72-year-old British millionaire revealed the club’s plan to construct a new stadium, which is expected to cost £2 billion.
In a statement, CEO Omar Berrada stated, “We are grateful for the patient and devoted support of our fans, especially our season ticket holders who form the backbone of our match-going support base.”
“We understand the importance of their backing for the team and have worked hard to come up with a pricing package that is fair and reasonable.
“After 11 consecutive years of price freezes, we increased prices by 5% for the past two seasons and intend to do the same for next season to offset continued rises in operating costs.
“Prices remain significantly lower than a decade ago when adjusted for inflation, and at similar levels to peer clubs in the north-west of England.”
Ratcliffe was urged to freeze all ticket prices by the Manchester United Supporters Trust (MUST) in January.
It followed harsh criticism from supporters of the team, which has reported losses of over £300 million in the last three years, for raising ticket prices to £66 per game in the middle of the season without offering any discounts to seniors or children.
“We listened closely to the compelling arguments put up by the Fans Advisory Board in favor of a freeze, and we recognize that any price increase is undesirable, especially during a period of underperformance on the field,” Berrada stated.
Nevertheless, the club has determined that it would not be appropriate to maintain rates at the same level as expenses increase and the club’s financial problems persist.
“We have protected our youngest season ticket holders from any increases and kept the increase as low as possible, all the while making sure the club has enough money to keep investing in team improvement.
“Our overarching plan is to set ticket prices so that every seat is occupied at every game, maximizing team support and offering a range of options for various fans, including concessions for our younger and older supporters.”
Following the club’s announcement, MUST issued a statement calling the price increase “frankly offensive.”
The supporters’ group declared, “It is blatantly disrespectful that fans should have to pay for the Glazers’ ownership and mistakes on top of the hundreds we already spend to support the team.”
“We contended that United ought to impose a price freeze for commercial as well as technical grounds.
“We were convinced that the money ‘lost’ from not raising prices would be more than made up for by the greater revenue from a higher finish in the table, and that a freeze, coupled with a rallying call that showed we are all in this together, could be a motivating force to lift spirits and propel the team forward.”
