Sir Jim Ratcliffe’s Old Trafford plans: £245m investment amid improvements for Man Utd’s stadium
The latest on Ineos’ plans to invest in Manchester United’s existing infrastructure.
and live on Freeview channel 276
Sir Jim Ratcliffe’s partial takeover of Manchester United is expected to be agreed before the club’s next game, a trip to Everton on 26 November.
Ratcliffe and his Ineos consortium are in the final stages of the negotiations for him to purchase 25 percent of the club’s shares for a fee of around £1.3m. Once that is agreed, the deal will need to be ratified with the Premier League while there will also be a gap in order to comply with public company regulations.
But once Ratcliffe’s investment is confirmed, the 71-year-old will essentially take over the running of United’s football operations, while operating alongside the Glazers.
Among the British billionaire’s priorities is the redevelopment of the club’s existing infrastructure. What exactly that entails is not yet clear, but it's believed a significant portion of that sum will be spent on improving Old Trafford. Ratcliffe plans to invest £245m of his own personal wealth to help finance the ground’s development.
Ineos have short and long-term plans for United’s ageing stadium, which is in desperate need of modernisation following a 15-year period in which the Glazers have done little to maintain the ground’s appearance and upkeep. Ratcliffe also hopes to utilise the acres of land around Old Trafford, which are owned by the club, but no concrete plans are yet in place.
The aim is for the 25 percent acquisition to be completed in time for the January transfer window, which could allow United to make improvements to their squad. Defence has been identified as a key area, with Jean-Clair Todibo, who plays for Ineos-owned Nice, a target for United.