Ten Hag and Ashworth were errors. I apologise for that

Kobbie Mainoo and Alejandro Garnacho would represent 100% profit under profitability and sustainability rules. But Ratcliffe denied they and other academy players would be sold to generate funds. "No. We won't be selling players because of the state we are in financially."

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Ten Hag came close to losing his job in May last year when Ratcliffe assessed several alternatives. The Dutchman remained in place and was consulted regarding a summer spend of £200m. Ratcliffe admitted that not removing him then was a mistake, along with the hiring of Dan Ashworth, the sporting director who departed in December.

"I agree the Erik ten Hag and Dan Ashworth decisions were errors. I think there were some mitigating circumstances, but ultimately they were errors. I accept that and I apologise for that."