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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