Sir Jim Ratcliffe is preparing to seal the purchase of a large stake in Manchester United within a fortnight.
It has been 12 months since the Glazer family announced a strategic review. This led to months of negotiations and speculation, with Ratcliffe now set to beat Qatari banker Sheikh Jassim bin Hamad al-Thani after purposing a deal for a minority stake in the club.
The latest update from Sky News suggests Ratcliffe will pledge £245 million ($300m) alongside the acquisition of a shareholding likely to be worth more than £1.25 billion.
“One source close to the talks said the additional $300m investment would be focused on United’s physical infrastructure, and not on addressing deficiencies on the playing side of the club,” the report reads.
EXCLUSIVE: Sir Jim Ratcliffe will commit $300m (£245m) from his multibillion pound fortune to @ManUtd's ageing physical infrastructure as part of a deal – expected to be sealed this month – that will see Ineos Sports buying a 25% stake in the Red Devils. https://t.co/EGfnEWPowA
— Mark Kleinman (@MarkKleinmanSky) November 3, 2023
Ratcliffe’s investment would be staggered, with the bulk of it being handed to the club by the end of the year. Furthermore it will come from the British billionaire personally, so it won’t add to United’s existing borrowings.
With negotiations ongoing between Ineos and the Glazer family, fans will hope a solution is found soon because Erik ten Hag needs clarity over the club’s future.
Hopefully this is a step in the door and eventually leads to the end of the Glazers at United.
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Oh wow, he’s giving a cracker to feed the 5000… The darn merry cans have sucked this club dry and a token amount isnt enough. We owe over a billion in debt and need to invest another couple on top of that to bring us in line with mid line teams let alone challenging for top spot.
Another Usless Owner
United will be mid table team
Still debt is there with the glazers no funds for new players
Sad to see Quatari gone they r the only one who can save united n compete with Man City n Realmadrid
This is sad Fact for united Rat think add Seats n get Money like Glazers