Man Utd make HUGE signing from PSG

Manchester United have completed a huge coup as they have agreed a deal to appoint PSG’s Marc Armstrong as the club’s new chief business officer.

The Athletic reports that United have concluded lengthy negotiations with PSG and have come to an agreement with the French giants that will see Armstrong join the Red Devils.

Armstrong is currently PSG’s Chief Revenue Office where he has been lauded for the great work he has done in improving the finances of the Ligue 1 side.

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United have been chasing Armstrong for a while and have now got their man, with official confirmation expected to arrive shortly.

The Athletic reports that Armstrong will begin his job at United in the coming weeks.

British-born Armstrong has been leading PSG’s financial strategy since 2022 and is considered one of the best in the world with commercial operations.

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He will report to Man Utd CEO Omar Berrada.

Armstrong’s main role at United will be running the club’s commercial activity.

He has previously worked with the England Football Association and the NBA in the United States.

United desperately need to improve their financial situation, with it very public in recent weeks how the club are unable to spend big in the market due to fears of not meeting the Premier League’s financial requirements.

Indeed, the Athletic reported this week that Manchester United are set to make more than 100 members of staff redundant in another cost-cutting cull of their workforce.

Since Sir Jim Ratcliffe’s INEOS became a co-owner of Man Utd in December 2023 – assuming sporting control of the club – there have already been numerous cost-cutting exercises that have affected staff.

Last summer INEOS oversaw the redundancies of 250 non-playing members of staff. They also enacted many other economic restraints such as cutting down on charity donations and free cereal bars to stewards.

Man Utd financial trouble

The alarming situation of Man Utd’s finances led to fan group The 1958 last month writing a formal letter to the club and United’s reply has since been published where they admitted they would need to make some ‘difficult choices’ to become cash positive again.

The letter read: “As previously communicated, we are however currently making a significant loss each year – totalling over £300 million in the past three years. This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP [financial fair play] requirements in future years and significantly impacting our ability to compete on the pitch.

“We will get back to a cash positive position as soon as possible and we will have to make some difficult choices to get there. That has included a significant reduction to our workforce as well as cuts across many areas of spend across our club.

“We do not expect fans to make up all the current shortfall – but we do need to look at our ticketing strategy to ensure we are charging the right amount, and offering the right discounts, across our products for our fans.”

There have been reports in recent days that United will need to focus more on the free transfer market this summer as they won’t be able to spend big money on transfer fees without selling players first.