Manchester United have undergone a terrible start to the 2023/24 season, losing eight games already in just 15 matches. Despite that, supporters appear to have something to look forward to in the form of a potential new co-owner.
Manchester United To Receive Major Investment From Sir Jim Ratcliffe
What Has Sir Jim Ratcliffe Proposed to Improve United?
Mark Kleinman of Sky News has confirmed that Sir Jim Ratcliffe is ready to add an extra incentive to his proposal to acquire a 25% stake in the club’s ownership if the deal goes through. The British billionaire has agreed to give the club around £245 million as part of the deal to acquire that stake and sporting control of the Red Devils.
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He is willing to give that amount to help improve the ageing infrastructure, and that this “would be financed by him personally” and would be delivered to the club before the end of 2023. The report mentions that the acquisition of the 25% shareholding rights for the club is likely to cost Ratcliffe over £1.25 billion.
Kleinman states that the deal to acquire 25% of the ownership is expected to be completed in a fortnight – but that timetable could change depending on how negotiations are going.
What Can Ratcliffe’s Investment Be Used For?
The amount the British businessman is willing to give – will not be used to address potential issues within the first-team squad or make signings. Instead, it is to be used to improve the physical structure of Old Trafford and the training facilities.
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Sky News further mentions that it is unlikely that the £245 million will be enough to restructure or rebuild Old Trafford – but that Ratcliffe has committed to giving more funds. He has reportedly won the battle to become a co-owner of United after Qatari Sheikh Jassim bin Hamad Al Thani is said to have withdrawn from the process to take over the club.