Ratcliffe's Man Utd deal in 'final negotiations' but fans won't like new board
Sir Jim Ratcliffe has entered his final talks as part of his deal to buy 25 percent of Manchester United but the make-up of the club’s new board will still shown a clear sign of the old regime.
The INEOS owner has been in negotiations to become a minority shareholder in the Old Trafford club over the past few months. He is set to pay £1.25million for his stake after previously vying with Qatari billionaire Sheikh Jassim bin Hamad Al Thani for a full takeover from the Glazer family.
The latter eventually pulled out, giving Ratcliffe a free run at investing. Now, it appears that he is finally closing in on getting a deal over the line and an announcement could potentially come soon.
As per The Times, Ratcliffe has entered his ‘final negotiations’ with the club’s hierarchy. It is claimed that his team have been working all week to try and get the necessary paperwork complete, with the approvals process then set to kick off.
It might be some time before a deal is formally signed however. It is further suggested that it could take weeks for the part-takeover to be ratified by the Premier League, which could stretch well into the New Year.
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Any completed deal would also have to be announced via the New York Stock Exchange, where the club’s shares are traded. While a deal has not yet been completed, Ratcliffe is already putting plans in place.
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The 71-year-old is expected to take full control of the club’s football operations after his Old Trafford arrival. Ratcliffe will also give more thought to his plans for the club’s board.
It is claimed that complications over how to split authority behind the scenes are also delaying things. Ratcliffe will become one member of the club’s board alongside Sir Dave Brailsford and Joel Glazer - the latter being a controversial inclusion given the protests he has faced during his time at Old Trafford.
While United fans will hope that the Red Devils will then be able to invest in the transfer market, that seems slightly unlikely. Speaking at a fans’ forum earlier this month, football director John Murtough hinted that the winter window could be relatively quiet.
He said: “Looking ahead to the January transfer window, we are not expecting it to be particularly busy. There will always be the possibility of deals around the edges of the squad, particularly in terms of finding opportunities for players who are not playing as much football as they would like.
“However, we’ve always been consistent in saying that we do not see January as the optimal time to do business and our recruitment strategy remains focused on summer windows.
"We’ve seen this season that financial fair play (FFP) rules have real teeth, so we have to be very careful to ensure that we remain compliant, and we will. But that means being really disciplined on spending going forward, with a balance between incomings and outgoings."
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