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Ten Hag has been doing poorly for Manchester United and the team under him has been underperforming regularly yet the management can't drop this manager now as his contract has been extended for one more season after his contract expired. This manager has been in charge of Manchester United for a long time but there were zero team achievements under him, but Manchester United should have terminated his contract and appointed a new manager. Manchester United are too late to catch up. Manchester United may have to finish another season at the bottom of the points table. But they should plan for the next season by accepting that the team performance will be poor this season and they should find the manager who will perform well and discuss with him in advance.
Manchester United can always fire any coach even if he has a contract, it's just that the club has to bear a lot of compensation for Ten Hag who was fired midway. Many teams do this, not only Manchester United, but I tend to believe Ten Hag will be kept until the end of the season.
Despite Manchester United's poor performance in charge, he doesn't seem to have many choices. Many players he wanted to recruit failed to bring in, including De Jong, previously from Barcelona. Ten Hag basically needs a lot of fresh players who can be relied on in defense, midfield and attack, while Manchester United is having difficulty reaching an agreement with the player's agent or club.
Since Manchester United has extended the contract with the current manager for one more season, if Manchester United wants to end the contract with this manager at the beginning of the season, then the manager will have to pay the full season. It can certainly be called a financial loss for any club. If Manchester United wanted to get rid of this manager, they would not have renewed his contract. So now it seems that they may keep this manager in charge of the club until 2025 even if they accept that the team will perform poorly under him for a full season. However, Manchester United should confirm in advance which manager will be given the responsibility of their club in the next season.