19 October 2023 , 15:38
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Just when Manchester United though new investment was finally arriving - the club are set to be dealt another blow to their transfer ambitions.
Some 331 days after the Glazers first announced their intentions to sell the club, on Thursday a 12-person board met to rubber-stamp a £1.4billion offer from INEOS supremo Sir Jim Ratcliffe. The proposal would see the lifelong United fan acquire a 25 per cent stake in the club, leaving the US family as the majority owners.
That development came after Sheikh Jassim withdrew his offer to buy the club outright. After months of prolonged negotiations, the Qatari banker grew frustrated with the lack of clarity from the club, with his reported £6billion bid reportedly falling short of the owner's valuation.
However, the Daily Mail has reported that the board meeting did not yield any kind of concrete conclusion. Instead, lawyers will continue to work on the intricate details of the deal, a process likely to take weeks if not months.
And should that ring true, then Erik ten Hag's worst fears for the January transfer window will become reality. Given New York Stock Exchange and Premier League requirements, Ratcliffe's injections of funds will almost certainly not be available until later on in 2024.
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The United boss splashed out just over £170million in the summer, with £72million man Rasmus Hojlund is most expensive addition. However, further spending was prohibited by FFP regulations, meaning the club must now essentially sell before they can buy big again.
Sir Jim Ratcliffe is pursuing a 25 per cent stake in Man United (STEVE ALLEN)HAVE YOUR SAY! Will the Ratcliffe deal go through? Comment below.
Proposed sales of Harry Maguire and Scott McTominay did not go through in the summer, while Donny van de Beek remains at the club despite being linked to a move away. Jadon Sancho also appears unlikely to represent the club again having fallen out publicly with the manager.
And pursuing new reinforcements has not been ruled out given United's inconsistent league form. The pre-international break win over Brentford temporarily papered over the cracks at Old Trafford, following their worst start to a top-flight season in 43 years.
The Red Devils go to Sheffield United on Saturday still lying 10th in the table. And the Glazers have been warned that the valuation of the club will drop if their poor form is compounded by failure to qualify for the Champions League this season.