[No one has ever treated me to a free lunch] Sir Ratcliffe said of the abolition of 450 positions and the abolition of employee benefits:
"The cost is too high. Manchester United has some very good people, but there is also a mediocre level, and the whole structure is bloated.
"I have been criticized a lot for canceling the free lunch, but no one has ever treated me to a free lunch.
"Whether you like it or not, the biggest correlation between results and any external factor is profitability. The more cash you have, the better your squad can be built.
"So, in our first year, most of our energy was spent on putting the club on a sustainable, healthy path.
"In this financial report, we have not yet seen the full results of the restructuring. (Manchester United achieved record revenue of £666.5 million last season, but lost £33 million for the full year) and we are not participating in the Champions League.
"These numbers will get better, in my opinion, Manchester United will become the most profitable football club in the world and achieve long-term, sustainable high-level competitiveness on this basis. "