Sir Jim Ratcliffe’s success over Sheikh Jassim bin Hamad Al Thani in the Manchester United takeover saga has disappointed many who wanted a full sale rather than a minority investment. But while the Glazers remain the club’s majority shareholders, the announcement of the strategic review outcome has reportedly been delayed with good reason.
Ratcliffe has been known as the preferred bid for a few months after whittling his offer from a full sale to a majority stake to a minority stake.
The INEOS founder is set to agree a £1.3billion deal for 25 per cent of United as early as this week, with final negotiations reportedly taking place on Thursday.
Confirmation of the deal, which will see Ratcliffe inherit sporting control from the Glazers, has been expected and pushed back for weeks, though, making some supporters sceptical.
However, according to The Times, the legal issues that have drawn out the process are partly down to determining how to split authority between the sporting and commercial sides of the club.
And it’s claimed that the parties are set to find a solution that fans should be optimistic about after fears that Joel Glazer would have a say in sporting matters on a three-man committee including Ratcliffe and Sir Dave Brailsford.
Click here to join our WhatsApp community to be the first to receive breaking and exclusive Man Utd news.
The report states that the final agreement will likely hand INEOS total power over sporting decisions, such as transfers and staff members’ futures.
It’s added that Ratcliffe’s investment, which values United at closer to £5bn than the Glazers’ inflated £6bn valuation, should be the first step in a phased full takeover.
The 71-year-old tycoon taking total control of the club’s football operations would be a promising start to his involvement.
United have been severely mismanaged throughout the decade after Sir Alex Ferguson’s 2013 retirement, with little sense of direction and poor performance on the pitch as a result.
But INEOS’ arrival, likely to be in February at the earliest due to the Premier League’s six-to-eight-week-long ownership test, acts as a breath of hope.
Ratcliffe has already reportedly pledged more of his own finances than the Glazers have in their 18-year reign.
He’s said to have put £245m aside to invest in United’s infrastructure, including upgrading the club’s Carrington training ground and starting a redevelopment of Old Trafford.
INEOS’ long-term plan involves improving the iconic stadium rather than building a new ground, expanding the capacity from 74,000 to 90,000.
