Sir Jim Ratcliffe’s £1.3bn investment in Manchester United ‘could now run into next week before it’s confirmed’… with the British billionaire still waiting to seal his 25% stake at Old Trafford
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Sir Jim Ratcliffe may be forced to wait until next week to see his 25 per cent minority stake in Manchester United confirmed by the club.
The British billionaire is waiting to formalise a £1.3billion deal with the Glazer family for a 25 per cent stake.
There had been growing expectation that his deal would finally be approved and confirmed by United during the November international break.
But the Telegraph now report that Ratcliffe, who is said to have targeted Thanksgiving – which is November 23 – as an end date, may now not get confirmation until next week.
Once Ratcliffe does get confirmation from United, he then faces a lengthy six-to-eight week wait for ratification from the Premier League. Only then will he be able to press on at United and begin to make changes as he sees fit.
Sir Jim Ratcliffe is waiting to confirm his minority stake, worth £1.3bn, in Manchester United
Fans want the Glazers out, but Ratcliffe is only coming to Old Trafford as a minority owner
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Wednesday marks the one-year anniversary since the Glazers put the club up for sale and it has been a long and drawn out process which came down to two offers, one from Ratcliffe and one from Qatar, led by Sheikh Jassim.
As detailed by Mail Sport previously, as well as the £1.3bn layout, Ratcliffe is is also likely to commit £245m from his own personal fortune to improving infrastructure at United, with the majority of what would be staggered funding due before the end of the year.
Industry experts have warned that the sum – should it be spent in its entirety on what is a decaying Old Trafford – will not be transformative.
United had stadium designers draft a number of proposals for potential refurbishment of their iconic home, which included razing it to the ground and building a new home.
Costs were estimated between £1bn and £2bn – far above the amount promised by Ratcliffe.
Ratcliffe will have to wait six-to-eight weeks for ratification from the Premier League once his purchase of 25 per cent from the Glazers is confirmed by Manchester United
Ratcliffe will assume control of football operations once he is cleared to stamp his authority on the club.
As a result, he will reportedly seek advice from legendary Manchester United manager Sir Alex Ferguson.
According to the Daily Telegraph, Ratcliffe will ask Ferguson, 81, for advice and guidance as he plots an extensive overhaul of the football side.
This could boost Dougie Freedman’s chances becoming United’s new sporting director amid stiff competition.
The Scot, who currently fulfils a similar role at Crystal Palace, is a long-standing friend and ally of compatriot Ferguson.
Freedman was formerly a neighbour of Ferguson in Cheshire before he took up his post at Palace in 2017.
United are one of the biggest sporting brand in the world, but they are struggling to win
Last week Crystal Palace chairman Steve Parish heaped praise on Freedman, but insisted there have been no talks with Manchester United over a potential departure.
‘You would have to get into the minds of those people (Manchester United decision makers) wouldn’t you,’ he told the Rest is Football.
‘I certainly don’t think there’s been any conversations. It’s flattering for the club.
‘You guys live in the world where 50 per cent of the stories in the media are true. 50 per cent are not. We just don’t know which ones yet.’
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