Manchester United and Sir Jim Ratcliffe hope to announce within days a £1.25 billion deal that will see the British billionaire take a 25% stake in the club.
According to Sky News reporter Mark Kleinman, we can expect confirmation of a deal by early next week once the transaction is complete.
This will mean that Ratcliffe’s Ineos Sports group take two boardroom seats at Old Trafford. The report outlines that neither Ratcliffe nor Sir Dave Brailsford is expected to sit on the club’s public company board.
However, sources told Sky News that the timetable could yet slip again, but both parties are planning to an announcement for next week.
Ratcliffe and his recruits from Ineos Sports group will take full control of football operations at Old Trafford and they will have their work cut out for them.
There are plans from Ratcliffe to commit £245m from his multibillion pound fortune to United’s ageing infrastructure as part of the transaction, with the bulk of that capital being handed to the club in the near future.
That said, every man and his dog knows that it will take a lot more than £245m to address the problems that exist at Old Trafford if Ratcliffe intends to turn it into one of the world’s elite football stadia once again.
The report does state that Ratcliffe is committed to investing additional sums in future.
It remains to be seen whether this is the beginning of the end for the Glazers at United. As fans of Manchester United, we certainly hope so.
Get the latest Manchester United news, opinion, interviews and exclusive features with the Stretty Newsletter – Ad Free! Kick off your afternoon with the Stretty News verdict on all matters Manchester United.
