Ratcliffe also discussed the wide-ranging, swingeing cuts made at the club in recent months, which have included 450 jobs being axed and the ending of staff perks. He said: "The costs were just too high. There are some fantastic people at Man Utd, but there was also a level of mediocrity and it had become bloated. I got a lot of flak for the free lunches, but no-one's ever given me a free lunch. The biggest correlation, like it or not, between results and any external factor - is profitability. The more cash you have got, the better squad you can build. So a lot of what we have done in the first year is spend an awful lot of time putting the club on a sustainable, healthy footing. We're not seeing all the benefits of the restructuring that we've done in this set of financial results and we were not in the Champions League. Those numbers will get better. Manchester United will become the most profitable football club in the world, in my view, and from that will stem, I hope, a long-term, sustainable, high-level of football."