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Manchester United Plans to Cut 250 Jobs

Soccer Football - Premier League - Manchester United v Luton Town - Old Trafford, Manchester, Britain - November 11, 2023 General view of the corner flag inside the stadium before the match REUTERS/Phil Noble/File Photo Purchase Licensing Rights
Soccer Football - Premier League - Manchester United v Luton Town - Old Trafford, Manchester, Britain - November 11, 2023 General view of the corner flag inside the stadium before the match REUTERS/Phil Noble/File Photo Purchase Licensing Rights
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Manchester United Plans to Cut 250 Jobs

Soccer Football - Premier League - Manchester United v Luton Town - Old Trafford, Manchester, Britain - November 11, 2023 General view of the corner flag inside the stadium before the match REUTERS/Phil Noble/File Photo Purchase Licensing Rights
Soccer Football - Premier League - Manchester United v Luton Town - Old Trafford, Manchester, Britain - November 11, 2023 General view of the corner flag inside the stadium before the match REUTERS/Phil Noble/File Photo Purchase Licensing Rights

Manchester United is proposing to cut about 250 jobs as part of a club-wide redundancy programme, a source close to the company told Reuters.

The job cuts would include all departments and levels of the club, except for its charitable arm Manchester United Foundation, according to the source.

The job cuts, first reported by the Daily Mail, would represent about 22% of its workforce.

The 20-times English champions, which saw its worst Premier League finish since 1990 at eighth place last season, is reviewing all aspects ahead of the 2024-25 season.

This also comes months after British billionaire Jim Ratcliffe took a 25% stake in Manchester United and took charge of their soccer operations to try to revive its fortunes on the pitch.

Manchester United had about 1,112 employees as of June last year, including players, coaches, administration staff and others.

The club, which is set to report third-quarter results on July 10, will welcome new CEO Omar Berrada, from Manchester City's parent company City Football Group, later this month.

Manchester United will play at the second-tier Europa League next season thanks to its FA Cup win, after having failed to qualify for the lucrative Champions League.

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Britain is Back in America’s Cup Final for the First Time in 60 years

INEOS Britannia, left, and Luna Rosa Prada Pirelli sailing teams compete during the Louis Vuitton Cup Final Day 7 at the Barcelona's coast, Spain, Friday, Oct. 4, 2024. (AP Photo/Joan Monfort)
INEOS Britannia, left, and Luna Rosa Prada Pirelli sailing teams compete during the Louis Vuitton Cup Final Day 7 at the Barcelona's coast, Spain, Friday, Oct. 4, 2024. (AP Photo/Joan Monfort)
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Britain is Back in America’s Cup Final for the First Time in 60 years

INEOS Britannia, left, and Luna Rosa Prada Pirelli sailing teams compete during the Louis Vuitton Cup Final Day 7 at the Barcelona's coast, Spain, Friday, Oct. 4, 2024. (AP Photo/Joan Monfort)
INEOS Britannia, left, and Luna Rosa Prada Pirelli sailing teams compete during the Louis Vuitton Cup Final Day 7 at the Barcelona's coast, Spain, Friday, Oct. 4, 2024. (AP Photo/Joan Monfort)

A British yacht is back in the America’s Cup finals for the first time since 1964 after INEOS Britannia finished off Italy’s Luna Rossa Prada Pirelli on Friday.

Britannia scored the winning point for a 7-4 series victory after a fast and flawless race that it finished 17 seconds ahead of Luna Rossa. Britannia claimed the Louis Vuitton Cup for being the best of five challengers.

The boat skippered by Olympic great Ben Ainslie will next face defender Team Emirates New Zealand in a first-to-seven wins series for the America’s Cup starting on Oct. 12.

Despite holding the most Olympic medals in sailing and having a rich maritime tradition, Britain has never won the biggest prize in the sport — a wait that runs back 173 years, according to The AP.

“One more to go boys!” Ainslie told his sailors, who shouted with joy as they crossed the finish line.

Britain has been chasing the America’s Cup ever since the schooner America won the race’s very first edition back in 1851 when it bested Royal Yacht Squadron in a loop around the Isle of Wight, with Queen Victoria herself in attendance. This is the 23rd time it has challenged for the Auld Mug, more than any other nation.

Now, it is the closest it has come to finally winning the cup in sixty years.

It will face a New Zealand team that has won the past two editions in 2017 and 2021. As defending champion in this truly winner-takes-all competition, the Kiwis got to choose the rules and the location of the regattas, so in theory they should have an edge that the Brits must overcome.

The British will have on their side the real racing experience over recent weeks. They have gone from outside threat to the fastest ship of the challenger’s fleet. Before racing started, New Zealand leader Grant Dalton said that he put both Luna Rossa and American Magic a notch above Britannia, but warned that the Brits could pull off a surprise.

That they did, delivering a nearly flawless Louis Vuitton finals series, while Luna Rossa’s chances were hurt by structural problems to their silver-hulled yacht.

The Britannia team has the financial backing of billionaire Jim Ratcliffe, who also bought into storied soccer club Manchester United this year. It has also benefitted from a partnership with the Mercedes Formula One team.

The British win over the Italians avenged a 7-1 loss to Luna Rossa in the same stage of the 2021 event in Auckland.

Only four nations have ever won the cup. After the 30 titles by American boats, New Zealand has won it three times, Switzerland twice and Australia once.