Revealed: Erik ten Hag will have to accept huge pay cut if he stays on as Man Utd manager beyond end of 2023-24 season

As reported by ESPN, Ten Hag is slated to undergo a substantial 25 percent pay cut at United, contingent upon his retention following the team's likely failure to secure qualification for the Champions League. The Dutch manager, who embarked on a three-year contract at Old Trafford after he departed from Ajax in May 2022, finds himself grappling with mounting pressure as the Red Devils languish in seventh place in the Premier League standings - trailing a top-four position by a staggering 16 points.

The report further mentions that United's revamped football hierarchy, led by minority owner Sir Jim Ratcliffe's INEOS, has been actively exploring potential alternatives to Ten Hag. Prospective candidates include prominent figures such as England's Gareth Southgate, Bayern Munich's Thomas Tuchel, Brighton's Roberto De Zerbi, Brentford's Thomas Frank, and Wolves' Gary O'Neil.

Despite drawing up the shortlist, the United board is making preparations for next season with Ten Hag at the helm. He is operating under a performance-based contract at Old Trafford and that means he would have to settle for a reduced salary of £6.75 million ($8.39m) next season from his current figure of £9 million ($11.2m) if United indeed miss out on Champions League football. Furthermore, it would potentially expose him to a lower compensation package if a decision is made to terminate his contract prematurely this summer, with one year remaining on his existing agreement.

United remain mathematically in contention for a top-four finish but their hopes could go up in smoke if they drop points against Sheffield United on Wednesday. They do not have an easy run of fixtures by any stretch of the imagination in May as they are set to face Crystal Palace, Arsenal, Newcastle United and Brighton in their final four league games of the season.