Sir Jim Ratcliffe’s Man Utd takeover to be announced – with huge investment
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Sir Jim Ratcliffe is set to invest £245million into Manchester United with plans to overhaul the club's ageing infrastructure.
The Brit billionaire had become the frontrunner to purchase the Premier League last month after bidding a reported amount of £1.3billion for a 25% share of the club. Alongside the fee paid for a quarter of Man United, the INEOS CEO will reportedly invest £245m to improve upon its infrastructure which has been criticised in the past by the legends of the institute including Cristiano Ronaldo and Gary Neville.
The news – which was revealed by Sky News – also reported the investment would be staggered with most of it going to the club by the end of 2023. The report added that the investment would be from the 71-year-old's fortune and will not be added to the existing borrowings at Man United.
READ MORE: Sir Jim Ratcliffe to run Man Utd football operations and control Erik ten Hag's future
READ MORE:Man Utd takeover nightmare as selfish Glazers will only sell Sir Jim Ratcliffe 25 percent stake
According to a source close to the negotiations, the £245m investment pledged by Ratcliffe will go towards the physical infrastructure at the club rather than bringing in talent on the football pitch. Ratcliffe – who is a long-time Manchester United fan – beat out Qatari businessman Sheikh Jassim bin Hamad al-Thani in their battle to buy the club after Jassim withdrew from negotiations last month.
Despite the Qatari offering an estimated £5billion for 100% of the club, it was the Brit's offer for a minority stake that the Glazers' decided to proceed with. Ratcliffe's 25% purchase is reported to be announced in the next two weeks which will provide much-needed relief for Man United fans across the globe following their torrid start to the season.
What should Sir Jim Ratcliffe's investment be used to improve first? Give us your thoughts in the comments section below
The club sit eighth in the Premier League after suffering five defeats in 10 league games with eight losses in all competitions. They sit third in their Champions League group and were recently knocked out of the Carabao Cup after an embarrassing 3-0 defeat to Newcastle at Old Trafford.
Pressure is at an all-time high for Erik ten Hag as the performances of his players continue to dwindle, conversations regarding his future at the club are becoming more intensified. Their next three games against Fulham, Copenhagen and Luton Town could make or break the Dutchman's fate at the Theatre of Dreams.
- Manchester United FC
- Premier League
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