British billionaire Sir Jim Ratcliffe will oversee the football operations at Manchester United when he secures the proposed 25% stake in the club through his company INEOS, according to The Telegraph‘s report.
Sheikh Jassim withdrew from the takeover competition on Saturday evening after the Glazers chose to accept a minority stake rather than a full permanent sale.
Sir Jim Ratcliffe’s proposal is expected to gain approval following a board meeting, and The Telegraph reports that he will have authority over the sporting aspects of the club with his investment.
While the 70-year-old billionaire intends to eventually take full control of the club, the Glazers are willing to take a more passive role to satisfy the United fanbase.
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🔴 Sir Jim Ratcliffe expected to have control of football/sporting operations once vote of 25% minority stake will be confirmed.
Key days ahead for Manchester United future as process will enter final stage. pic.twitter.com/aiW2kivaMg
— Fabrizio Romano (@FabrizioRomano) October 15, 2023
After an extensive takeover process lasting nearly 11 months, the Glazers have ultimately opted for a minority investment. Ratcliffe is set to pay £1.35 billion for a 25 per cent ownership stake.
The question remains regarding how he can positively impact the club’s fortunes with this relatively small ownership stake.
When INEOS assumed control of Nice a few years ago, Sir Jim Ratcliffe made significant promises, but the club has largely remained in mid-table, lacking adequate investment. This season they have played well and are currently second in the French league table.
If he acquires Man United, he will need to show a greater commitment to transfer activities and stadium development. Whether he can deliver on these promises remains a significant question at this point.
The Glazers are making the right move by ceding control to Ratcliffe, but he has a huge task ahead to convince the fans that he is the best owner of the club.
The fans would still be unhappy that the American owners didn’t hand over the complete rights to Sheikh Jassim of Qatar.
