24 October 2023 , 09:42
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Richard Keys has described Sir Jim Ratcliffe's Manchester United takeover as a "mess" - after concerns were raised over where his money is coming from.
INEOS chief Ratcliffe is set to buy a 25 per cent stake in the Red Devils after holding off competition from Qatari banker Sheikh Jassim bin Hamad Al Thani. The billionaire's deal means the Glazers will remain in charge at Old Trafford... for the time being at least.
It's claimed Ratcliffe is using loans from two banks, Goldman Sachs and JP Morgan, to fund his United takeover. This has worried fans, who were angered by the Glazers buying the club with leveraged debt back in 2005. Those debts still hang over the club.
United need significant investment to renovate or rebuild Old Trafford, which is no longer viewed as one of the best stadiums in the Premier League. Old Trafford has not been chosen to host any games at Euro 2028, which takes place in the United Kingdom and the Republic of Ireland.
"What’s the reason for the takeover delay Sunny Jim?" asked beIN Sports presenter Keys in his latest blog post. "What a mess. Are we convinced that Ratcliffe’s bid for United will ever actually happen? Does he really think that United fans will tolerate the Glazers staying firmly in control of the club despite his potential investment?"
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Keys' scepticism comes after a lengthy takeover process. The Glazers put United up for sale almost a year ago and are yet to name a preferred bidder, although it's widely reported that Ratcliffe has won the takeover race with his minority bid.
Keys then sighted an article by the Daily Mail, which claimed Ratcliffe was taking out loans to finance his deal. Keys added in his scathing assessment: "I read that he’s actually borrowing money to make it happen... incredible. Absolutely incredible."
Ratcliffe's takeover is yet to be completed (PA)What's your thoughts on Sir Jim Ratcliffe's Manchester United takeover? Let us know in the comments below!
United fans are desperate to know exactly how Ratcliffe's deal will work and want the Glazers to break their silence sooner rather than later. It's believed Ratcliffe wants control of football operations after a tough decade for the three-time European champions.
United haven't won the Premier League title since Sir Alex Ferguson's retirement in 2013. They have won some trophies - two League Cups, the Europa League and the FA Cup - but they haven't achieved the sustained success most United fans are used to.
Rio Ferdinand, who played for United between 2002 and 2014, has urged Ratcliffe to set out his plans. He told Mirror Football: "From the outside it looks quite complex because we’ve not had it explained to us what 25 per cent looks like from a business standpoint.
"Football is a business but you can’t treat football clubs like businesses and not in a holistic way. There’s too much emotional involvement, the history, the fans baying for news, information and guidance. (He needs) to appease the anxiety that has crept in."
Ferdinand added: "Most fans wanted a new ownership. Communication is vital. If Mr Ratcliffe is coming in and wants to hit the ground running, show some signs of influence, one of the key areas he needs to zone into is communication with the fanbase."