Man Utd receive major Premier League boost as Sir Jim Ratcliffe investment moves closer

The Premier League has approved Sir Jim Ratcliffe's investment into Manchester United with confirmation expected before the end of this month.

Filings sent to the Securities and Exchange Commission (SEC) late on Monday night confirmed that the club had 'obtained' private approval for the deal that will see Ratcliffe hold around 25 per cent of shares in return for an investment of over £1billion.

Ratcliffe has now passed the Premier League's powers' and directors' test, which can bar certain individuals from holding power in football clubs due to things like outstanding criminal convictions, sporting bans or involvement in other clubs that might create a conflict of interest. 

United are still awaiting sign off from the Football Association but official announcements, both from the club and the Premier League, are expected to come next week. Following confirmation, Ratcliffe will officially become an investor in the club more than a month after his imminent involvement was first announced on Christmas Eve.

Despite holding a minority share, Ratcliffe will take complete control of footballing operations at United, including the hiring and firing of Erik ten Hag and those above him. The INEOS chief has already poached Omar Berrada from Manchester City to take over as chief executive, while a new sporting director could soon follow.

Newcastle transfer chief Dan Ashworth is admired by Ratcliffe and INEOS director of sport, Sir Dave Brailsford. Other names on the shortlist include Paul Mitchell and Julian Ward, formerly of Monaco and Liverpool respectively.

Ratcliffe and his staff will oversee a summer of major change at United, particularly in a playing squad that has struggled this season despite a recent uptick in form. Ten Hag is keen to lower the age profile of his squad and a number of ageing stars could leave. Raphael Varane and Jonny Evans are both out of contract while Casemiro and Harry Maguire could both be sold.

United will aim to strengthen across the pitch, with early priorities lying in central defence and upfront. Anthony Martial will also leave as a free agent this summer, leaving only Rasmus Hojlund as a natural No.9.

Ratcliffe has also put aside £237m for investment into Old Trafford, which has been neglected under the ownership of the Glazer family. Recent reports have suggested the petrochemicals billionaire is looking to create a 'Wembley of the North' in Manchester that could even see Old Trafford knocked down and rebuilt.