Manchester United and Sir Jim Ratcliffe have reportedly agreed to confirm the British businessman’s partial 25% investment into the club early next week.
Since news broke out that the Glazers had accepted Ratcliffe’s bid for minority investment, there has been a lot of speculation regarding when an official announcement would be made.
There was an expectation that confirmation of the deal would be done during the November international break but it did not happen.
A recent report covered by The Peoples Person relayed that it’s likely Ratcliffe would come in before Christmas.
Sky Sports have now corroborated this information and indicated that an announcement could be made public as soon as next week if no further delays occur.
It’s thought that Ratcliffe’s proposal will see the INEOS billionaire take charge of United’s sporting operations. This comes amidst the team’s struggles in Europe, with the Red Devils currently on the brink of elimination from the Champions League.
The 20-time English champions are not faring any better in the Premier League and pressure is mounting on Erik ten Hag after another dismal performance saw his side suffer a 1-0 defeat at the hands of Newcastle on Saturday.
Sky Sports’ Mark Kleinman explains, “Manchester United Football Club and Sir Jim Ratcliffe, the petrochemicals billionaire, aim to announce within days a £1.25bn deal that will see him take a 25% stake in the Red Devils.”
“Sky News understands that the two sides have pencilled in early next week to confirm the long-awaited transaction, which will involve Sir Jim’s Ineos Sports taking two boardroom seats at Old Trafford.”
“Sources said the timetable could yet slip again, but that an announcement early next week was now expected by both United and Ineos.”
Kleinman adds that neither Ratcliffe nor his close confidant Sir Dave Brailsford will join United’s public company board.
As part of the arrangement, the Glazers will also sell Ratcliffe 25% of their B-shares, which of course carry greater voting rights.