Sir Jim Ratcliffe to Invest £245m in Manchester United Infrastructure
British billionaire Sir Jim Ratcliffe is reportedly set to promise £245million of additional investment to help improve the infrastructure at Manchester United. The 71-year-old’s offer of £1.3billion for a 25 per cent stake in the club is set to be accepted by the United board when they meet on Thursday to discuss the offer.
The investment for such improvements will not come at the cost of the club or add to their existing debts but will instead be financed solely from Ratcliffe’s personal fortunes. The £245m worth of investment is said to be staggered but the majority of the money will end up with the club by the end of 2023.
Renovating Old Trafford a Key Priority
According to Sky News, one of the first items on Ratcliffe’s agenda will be to address the infrastructure at the club, with renovating Old Trafford a key priority. The training facilities at Carrington are also likely to receive funds but the main focus will likely be on the stadium which was snubbed as a venue for Euro 2028 due to its current condition.
Gary Neville has been one of many vocal critics of the lack of investment in the stadium from the Glazers, brandishing it as ‘shameful’. ‘They have overseen a decline for 20 years in which it has gone from being one of the best stadiums in the world to one that can’t even get into the top 10 in the UK and Ireland,’ Neville added.
Ratcliffe to Take Control of Sporting Matters
As part of the agreement, Ratcliffe has also reportedly negotiated a clause that grants him and Ineos control of sporting matters with the Glazers set to take a back seat. This means that Ratcliffe will have a say in how the club is run and how money is spent on transfers and wages.
Ratcliffe had initially intended to buy the club outright but has settled for a minority stake in the club through his company Ineos. It follows a long, drawn-out bidding process with the Glazers who have considered several buyers, most notably Qatari businessman Sheikh Jassim bin Hamad al-Thani.
Conclusion
Sir Jim Ratcliffe’s proposed £245million investment into Manchester United’s infrastructure is set to be welcomed by fans and critics alike. The British billionaire’s offer of £1.3billion for a 25 per cent stake in the club is set to be accepted by the United board when they meet on Thursday to discuss the offer. The majority of the money will end up with the club by the end of 2023 and will be used to renovate Old Trafford and improve training facilities at Carrington.