Following the withdrawal of Sheikh Jassim’s majority bid to takeover Manchester United,, Sir Jim Ratcliffe and Ineos are set to acquire a 25% stake in the club.
It is reported that Ratcliffe’s acquisition will be for around £1.3bn, with the British businessman and his team set to lead on football operations at the club upon approval from the board.
The deal between the Glazers and Ratcliffe is set to be completed in the coming weeks after months of negotiations between the two parties as Jassim was only interested in purchasing a full stake in the club.
It’s a move that is likely to be met with angst from Manchester United fans, who collectively had called for a full sale of the club, and for the Glazers to cease ownership.
Nonetheless, under the unique situation of terms laid out by Ratcliffe and Ineos, the group are seeking full control of football operations at the club, and are set to focus on expanding Old Trafford to 90,000 seats, providing the stadium with significant and much-need renovation.
Ratcliffe could reshuffle the senior management team at Manchester United, however, he has reportedly assured Erik ten-Hag that he remains part of the plans at the club, in spite of a tough start to the season.
Prior to taking the role at Old Trafford, Ratcliffe is set to undergo a Fit-and-Proper Owner’s test from English football’s governance.
Following the deal, the Manchester United Supporter’s Trust aimed criticism at the Glazers, stating: “It would be wildly optimistic to think the Glazers are acting in the interests of supporters or are making ownership decisions which don’t centre on their own priorities. However, what supporters should expect at the very least now is some clarity and an end to this process.
“Furthermore the outcome must include new investment into the club. It cannot be solely about the interests of shareholders, whether existing or new. We call upon all parties to put Manchester United interests before their own interests.
“If the reports are true regarding INEOS obtaining a 25 per cent stake in our club there are a number of questions around the transaction which need clarity before supporters can make any judgement on its merits.”
