Jim Ratcliffe may soon take control of Manchester United’s football operations in the coming days after completing the purchase of a 25% stake in the club.
According to The Sun, Ratcliffe is expediting negotiations to oversee Man Utd starting November 13. The deal to acquire a 25% stake from the Glazers for $1.7 billion has been finalized, and both parties are preparing for the transfer.
In early 2023, Ratcliffe participated in the bidding for Man Utd shares alongside Qatari businessman Sheikh Jassim. According to The Sun, Sheikh Jassim proposed to buy the entire stake for $6 billion, but the Glazers declined. After acquiring a 25% stake, Ratcliffe plans to manage the football operations, while the Glazers will retain control of the commercial aspects.
Dave Brailsford, the Sports Director of the Ineos group, where Ratcliffe serves as Chairman and CEO, will also oversee Man Utd. Brailsford, who led the British cycling team, achieved 18 gold medals in the 2004, 2008, and 2012 Olympics. The 60-year-old played a crucial role in the success of Team Sky/INEOS Grenadiers, a cycling team that has won the Tour de France six times since he became the team principal.
Man Utd manager Erik ten Hag is under significant pressure due to the team’s performance. The “Red Devils” currently sit eighth in the Premier League, with only 18 points from 11 matches, and were eliminated in the fourth round of the League Cup after a 0-3 loss to Newcastle. In the Champions League, Man Utd is at the bottom of Group A and faces possible elimination if they do not achieve favorable results against Galatasaray and Bayern in the remaining two matches.
However, according to The Mirror, Ratcliffe does not believe replacing Ten Hag is necessary. What the billionaire aims for is to improve the inefficient transfer activities that have occurred over the past few years. He is frustrated with Man Utd spending significant amounts on players like Jadon Sancho and Antony without receiving commensurate results. With the arrival of Ratcliffe and Brailsford, the positions of Executive Vice-Chairman Richard Arnold and Football Director John Murtough may no longer be necessary.
Ratcliffe, originally a chemical engineer before becoming a businessman, founded Ineos in 1998. In 2021, the conglomerate achieved a revenue of $65 billion. Ratcliffe owns assets worth $19.4 billion, making him the second-richest person in the United Kingdom.
