We are learning more about Sir Jim Ratcliffe’s buy-in attempt at Manchester United, but nothing has been signed yet except for non-disclosure agreements.
The British billionaire, 71, has shown willingness to take a minority stake in the club to get his foot in the door.
As reported everywhere in the media, Ratcliffe is initially trying to acquire a 25% stake in United and assume control over all sporting decisions. This would range from staff appointments and player recruitment.
It was announced almost 11 months ago that the Glazers were doing a strategic review on the club and were willing to welcome investment. Qatari banker Sheikh Jassim bin Hamad Al Thani expressed interest before dropping out of the race last week.
According to the Financial Times, Ratcliffe’s proposed deal would see Sir Dave Brailsford – director of sport at Ineos – and Joel Glazer would sit on a committee overseeing football matters.
United’s commercial operations would remain under the Glazers’ control, although Ratcliffe would have some influence as a large shareholder and board director.
The future of United depends on whether Ratcliffe can eventually push the Glazers out of the club by increasing his stake and influence.
“It’s finally a little crack in the glass,” Andy Green, a board member at the Manchester United Supporters Trust, told FT when asked if he welcomed the prospect of Ratcliffe buying into the club. “You can see some change coming and that’s got to be good for United.”
Green added: “Ineos are in it for the glory – they don’t appear to be in it for the financial return. Having somebody in the boardroom who wants the sporting side to be better has got to be a good thing.”
Fans will hope Ratcliffe’s potential arrive represents the beginning of the end for the Glazers at United.
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