Sir Jim Ratcliffe ‘to invest MORE money in Man Utd than Sheikh Jassim pledged’ once 25 per cent purchase is done
SIR JIM RATCLIFFE is set to invest MORE money in Manchester United than his bidding rival Sheikh Jassim would have, according to reports.
And that’s despite Ratcliffe only purchasing a 25 per cent stake in the club.
Despite only making a minority investment, Ratcliffe is expected to be given the reins to control the footballing direction at the club.
The takeover could be announced as early as next week but is unlikely to be announced on Monday due to the focus on Sir Bobby Charlton‘s funeral.
Caught Offside report that Ratcliffe’s INEOS will form a committee overseeing the sporting direction of the club alongside Joel Glazer.
While Ratcliffe will want a hands-on role, CEO of INEOS Sport Jean-Claude Blanc will have a key role alongside Sir Dave Brailsford.
The committee is expected to appoint a new sporting director.
Ratcliffe will inject £245million into the club from his own personal funds before the end of the year.
However, it is believed a much bigger investment is needed to improve United’s Carrington training ground as well as funding the academy and men’s and women’s first-teams.
Ratcliffe is expected to invest £1.6billion into the club on top of the £1.4billion he paid for his 35 per cent stake.
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Ratcliffe’s main bidding rival, Sheikh Jassim, was only prepared to invest £1.4billion into the team and its infrastructure according to Caught Offside.
Sheikh Jassim withdrew from the bidding process after being unable to agree a fee for the club with the Glazers.
The Qatar-based banker was only willing to buy a 100 per cent stake in the club.
Jassim was also unwilling to outline to the Glazers how much he would invest in the club’s infrastructure after the takeover as he did not deem it relevant to the process.
INEOS, however, stress that they are aware of the need to spend on the club’s infrastructure and have discussed their plans with the Glazers in detail.
Ratcliffe will reportedly use his own personal funds to finance this and any loans will be taken out under INEOS rather than Manchester United – therefore not saddling the club with more debt.
Ratcliffe would like the takeover to be complete by January in order to splash the cash in the upcoming window – although massive statement signings are not expected.
Ratcliffe would like to appoint a new sporting director – with Paul Mitchell among the favourites.
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