United minority takeover: Ratcliffe requests supporters' patience
Manchester United will be getting an investment of about $1.3 billion from Sir Jim Ratcliffe. This means that the ownership of the English soccer team has finally been resolved after more than a year of speculation. Investors’ insatiable need for sporting assets has been further shown.
With the acquisition of 25 percent of the club, the British millionaire will have full control over all soccer-related activities. The club’s controversial Glazer family will retain control despite Ratcliffe‘s arrival as a minority partner.
This time around, however, the former will be leading INEOS’ sporting operations. To further invest in Old Trafford’s infrastructure, he will give $300 million.
For the Red Devils, Ratcliffe had to fight off Qatari financier Sheikh Jassim bin Hamad Al Thani. But Erik ten Hag’s squad is underperforming and has failed to impress this season.
Manchester United are now in ninth place in the Premier League and were knocked out of the UEFA Champions League since they finished last in their group. Last season, they finished third in the league and won the EFL Cup.
What did Ratcliffe tell United supporters?
Among the fan organizations that the 71-year-old has recently reached out to is the Manchester United Supporters’ Trust. It’s no secret that United have been underwhelming over the last decade.
However, Ratcliffe accepted INEOS’s position as ‘custodians of the club on your behalf’ and conceded that a turnaround may be inevitable. Nevertheless, he vowed that INEOS are ’in it for the long-term’ and detailed his plans to restore the club’s fortunes.
Our Pick:Includes: Premier League, Liga MX, Ligue 1, + 84 Sports Channels |
“I wanted to write to you at this time given the critical role of the fans to the future of the Manchester United as we recognise our responsibility as custodians of the club on your behalf”, he wrote.
“I believe we can bring sporting success on the pitch to complement the undoubted commercial success the club has enjoyed. It will require time and patience alongside rigour and the highest level of professional management.
“You are ambitious for Man Utd and so are we. There are no guarantees in sport, and change can inevitably take time but we are in it for the long-term and together we want to help take Man Utd back to where it belongs, at the very top of English European and world football.
“I take that responsibility very seriously. Please note that, as with any deal, it is subject to the usual regulatory sign-off process and therefore we do not expect to speak publicly about club matters until after the deal has completed.”
United minority takeover: What will Ratcliffe do in January?
His goal of returning United to the top is without a doubt, ambitious. It will be difficult to achieve given the club’s recent decline and their current position second to Manchester City in the city.
While Ratcliffe’s 25% ownership won’t significantly affect Man United’s winter business budget, the next January transfer window is sure to be another major headache for him.
Next month, the Red Devils will reportedly concentrate on releasing undesired players from the team in the hopes of generating £80 million via sales. They have reportedly already compiled a list of players who might be let go.
Anthony Martial, Donny van de Beek, Raphael Varane, Jadon Sancho, and Casemiro may all be given the green light to go.
Photo: IMAGO / PA Images