New co-owner of Manchester United Jim Ratcliffe plans to cut 200 staff and reduce benefits after £300 million losses over three years.

You can dress it up in boardroom language, but telling hundreds of working people they are being let go always lands like a sad song on a cold night. If Ratcliffe wants anyone to believe this is about saving United rather than just sharpening margins, he will have to show the same toughness on executive perks and ticket prices that he is showing on the staff list.

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