MANCHESTER UNITED
Who is Sir Jim Ratcliffe, the new owner of Manchester United?
Manchester United announced that Sir Jim Ratcliffe has acquired a 25% stake in the club, worth between £1.25 and £1.3 billion.
Christmas has been anything but quiet at Old Trafford. A few days after Manchester United’s 13th defeat of the season against West Ham (2-0), news broke on the red side of Manchester. It was an announcement that could change the future of the club. The Premier League giants announced that Sir Jim Ratcliffe has acquired a 25% stake in the club, worth between £1.25 and £1.3 billion.
As part of the agreement reached by the owner of INEOS with the Glazers, “the petrochemical billionaire will take over the football operations at Old Trafford”. Although the Premier League ratification process could take - according to reports in the British Isles, between six and eight weeks - Ratcliffe’s idea is to take responsibility for sporting decisions, “including player recruitment”.
Ten Hag’s future
This responsibility for sporting decisions could also include a decision on the future of Erik ten Hag. The Dutch manager has come under pressure this season and with United eliminated from the Champions League and the Carabao Cup, he has received his fair share of criticism. Ratcliffe is a Manchester United supporter and has pledged a £245m investment to improve the infrastructure at Old Trafford and the Carrington training ground.
The British tycoon, who also owns OGC Nice, is reportedly trying to sell the French club for £80 million and “will recommend job cuts and efficiency savings in several departments at Manchester United after his purchase”, as reported by the Daily Mail.