The Premier League giants have said: “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.”