Manchester United’s transfer budget is reportedly set to be boosted by the investment from Sir Jim Ratcliffe.
Last week, it was confirmed that British billionaire and INEOS boss Ratcliffe had agreed a deal to buy a 25% stake in the Old Trafford club.
It has been reported that Ratcliffe and his team will head up the football operations whilst the Glazers deal with the commercial side.
Now, it has been reported that there could be a change in United’s transfer budget
According to The Times, Ratcliffe’s investment is set to increase the club’s ability to buy players in the summer without breaking financial fair play rules.
Back in July, the Old Trafford club were fined for “what the club described as “a minor technical breach of . . . previous Financial Fair Play rules” during the European governing body’s 2022 reporting period. United’s player recruitment has also been constrained by the Premier League’s profit and sustainability rules (PSR), which restrict clubs to £15 million of allowable losses over a three-year period.”
It is believed that a further £90 million of losses is permitted if an owner injects new equity into the club.
As a result of Ratcliffe’s deal, United’s allowable losses have gone from £15 million to £105 million.
The Times stated: “As transfer fees are amortised over the length of a player’s contract, adding £90 million to United’s PSR limit grants Ratcliffe’s sports management team the option of spending several hundred million more on recruiting new players or coaching staff.”
Speaking about working with Ratcliffe, United boss Erik ten Hag said: “I don’t think it has had an impact on the players. I was kept informed in the whole process, first by Richard Arnold [former CEO] and then Patrick Stewart [interim CEO], so I knew what was going on. We’re looking forward. I think it is positive for the club that they are stepping into
“They have a lot of experience in sport at the highest level – F1, a cycling team, football clubs. They can only help us and support us to get our targets. They want to work with us and we want to work with them.”
Manchester United owners, the Glazers, first email to staff since the Sir Jim Ratcliffe deal has reportedly been leaked.
Last week, it was confirmed that British billionaire and INEOS boss Ratcliffe had agreed a deal to buy a 25% stake in the Old Trafford club.
It has been reported that Ratcliffe and his team will head up the football operations whilst the Glazers deal with the commercial side.
As part of the partnership, the Board has asked INEOS, with their agreement, to have oversight and responsibility for the Club’s football operations.”
The letter continued: “This will include all aspects of the men’s and women’s football operation and the Academies, with the aim of delivering a world-class, high-performance environment supporting success on the pitch.
“This will build on the Club’s many existing strengths, including industry-leading success off the pitch.
On the back of the deal, it was reported that the Glazers sent out an email to United staff, which was later leaked to the media.
According to the talkSPORT, the letter read: “Dear Colleagues. We are pleased to share the news that the Board has agreed a deal for INEOS Chairman, Sir Jim Ratcliffe, to acquire up to 25 per cent of A & B shares of Manchester United.
“This follows the strategic review over the past year in which we have explored a number of different options to help strengthen the Club and ensure additional funds intended for investment in infrastructure.
“We know Manchester United has great strengths – not least its people. This deal will help to unlock more of the potential that you have helped build in this great Club.
As part of the partnership, the Board has asked INEOS, with their agreement, to have oversight and responsibility for the Club’s football operations.”
The letter continued: “This will include all aspects of the men’s and women’s football operation and the Academies, with the aim of delivering a world-class, high-performance environment supporting success on the pitch.
“This will build on the Club’s many existing strengths, including industry-leading success off the pitch.
“INEOS brings expertise and experience from inside and outside the game that we believe can benefit Manchester United. We know from our conversations that they share our ambition and aspiration to ensure that the Club returns to the top of English, European and world football and together we will work hard to help make that happen.
“The transaction is subject to the usual regulatory and Premier League approvals, and we hope it will be completed as soon as possible. During this period Sir Jim and INEOS do not plan to make any public statements.
“Moving forward, they will work closely with Patrick Stewart, as interim CEO, and the Executive Leadership Team as they integrate into the Club. We understand this process has taken time and has inevitably created some uncertainty for colleagues. But it has been important to conduct the strategic review thoroughly and to find the right partner to take us forward. Thank you for your patience.
“We are excited about the opportunity ahead and realistic about the hard work and commitment that it will require from everyone at Manchester United to help realise it. However, we know from more than 18 years’ experience working with you, that we can count on your diligence, dedication, and ability.”
BREAKING: Sir Jim Ratcliffe completes deal for minority stake in Manchester United
BREAKING: Sir Jim Ratcliffe completes deal for minority stake in Manchester United
Sir Jim Ratcliffe has completed a deal to purchase a minority stake in Manchester United.
British petrochemicals billionaire Ratcliffe has signed off a deal which will see his Ineos Group pay around £1.25bn to buy 25 per cent of United.
In a statement the club said: “Manchester United plc (NYSE: MANU) announced today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford.”
Ratcliffe’s purchase comes more than a year after the Glazer family first announced they were considering selling the club.
There will now be a six-to-eight week liminal period as the Premier League sign off on the purchase, at which point Ratcliffe will take control of footballing matters at Old Trafford.
In turn, next month’s transfer window will be closed by the time Ratcliffe is officially involved.
INEOS Chairman, Ratcliffe, told the club website: “As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club.
“Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion.
“We are committed to working with everyone at the Club – the Board, staff, players and fans – to help drive the Club forward.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
Ineos and Qatari banker Sheikh Jassim bin Hamad Al Thani both initially tabled bids of around £5billion for the Old Trafford club.
However, neither bidder was willing to reach the Glazer family’s valuation. Indeed, co-chairs Joel and Avram Glazer were both thought to be reluctant sellers.
Sheikh Jassim withdrew from the process in October, alleging his final bid, reportedly worth double United’s $3.2billion (£2.64billion) stock market valuation, had not met the Glazers’ demands.
Ratcliffe had already amended his initial plan to buy the Glazers’ 69 per cent shareholding and reduced it to a ‘majority’ stake.
But it was only when he reduced once more to an anticipated 25 per cent, that the potential for an agreement emerged.
Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said: “We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and Academy teams.
“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game. Manchester United has talented people right across the Club and our desire is to always improve at every level to help bring our great fans more success in the future.”
Topics: Football, Sir Jim Ratcliffe, Manchester United, Premier League
Sir Jim Ratcliffe and the Glazers have agreed to include bizarre clause as part of Man Utd dealer Jim Ratcliffe and the Glazers have agreed to include bizarre clause as part of Man Utd deal
Sir Jim Ratcliffe and the Glazers have reportedly agreed to include a clause as part of their Manchester United deal.
Last week, it was confirmed that British billionaire and INEOS boss Ratcliffe had agreed a deal to buy a 25% stake in the Old Trafford club.
It has been reported that Ratcliffe and his team will head up the football operations whilst the Glazers deal with the commercial side.
Now, it has been reported that the two parties included a bizarre clause within t
According to The Times, the document outlining the deal states that Ratcliffe’s Trawlers Limited can not to make public statements that ‘constitute an ad hominem attack on, criticise, or otherwise disparage, the sellers [The Glazers], the company [United] or their respective affiliates’.
It has been reported that the Glazers will have to refrain from any public criticism of Ratcliffe and his team.
After the deal was confirmed, it was claimed that Ratcliffe sent a private letter to a few of United’s fan groups, which was later leaked on social media.
Ratcliffe wrote, via The Express: “I wanted to write to you at this time given the critical role of the fans to the future of Manchester United as we recognise our responsibility as custodians of the Club on your behalf.
“I believe we can bring sporting success on the pitch to complement the undoubted commercial success that the club has enjoyed.” The petrochemicals magnate went on to warn fans that success would not come about overnight.
“It will require time and patience alongside rigour and the highest level of professional management.”
He continued: “You are ambitious for Manchester United 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 Manchester United back to where the club 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.
Sir Jim Ratcliffe was once criticised by his own captain at Nice as Man United deal edges closer
Sir Jim Ratcliffe was once criticised by his own captain at Nice as Man United deal edges closer
Sir Jim Ratcliffe was once criticised by his own captain at French side Nice.
The British billionaire and INEOS boss is set to complete a 25% purchase of Manchester United, with an announcement set to be made on Sunday afternoon.
With Ratcliffe and his INEOS team set to take over the football operations at the Old Trafford club, another club in his vast sporting portfolio, Nice, endured a difficult season under his ownership during the 22/23 campaign.
At the end of the 21/22 season, Ratcliffe said that he wanted Nice to compete with Paris Saint-Germain for the Ligue 1 title.
Back in May, club captain Dante was critical of the club’s hierarchy, including Ratcliffe’s ownership.
As per L’Equipe, Dante said: “I think at some point you have to be clear in what you’re saying.
“To maintain a project, maybe you need to speak less about objectives and work in silence to create an environment of competitors. Because the expectation is even bigger, and then after, people are frustrated.
“The best thing to do is to prepare as quickly as possible for next season in order to start it well. Do you remember how many players came in at the end of the transfer window last summer? Six left, six arrived.
“It’s difficult in these conditions. Simply, we mustn’t make the same errors.”
Dante continued: “If someone wants my opinion, the earlier we organise ourselves, the better it will be. If we want to aim higher, we have to anticipate things and put the values of the organisation in places
“When the coach (Lucien Favre) arrived, we said in two years that we would always be in the Champions League. It doesn’t work like that. Ligue 1 is very difficult.
“We lost 10 players, 10 arrived. The teams in the semi-finals of big competitions play together for three, four years. We changed everything last summer. There is a lack of coherence somewhere. I am sorry to say that.
“To be more concrete, how many players have been consistent this season? The response is simple. A competitive team has 12, 13, 14 players at the top level
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