In an upcoming deal that promises to be transformational, British mogul Sir Jim Ratcliffe is close to sealing a £1.3 billion agreement to acquire a 25% stake in Manchester United. The pivotal board meeting scheduled for Thursday is expected to greenlight this major acquisition by the tycoon.
A crucial aspect of this arrangement, as reported by The Times, is the provision which grants Ratcliffe’s company, Ineos, an authoritative say in the club’s sporting affairs, allowing the Glazers to take on a more passive role.
A top priority for Ratcliffe once the deal is cemented is a comprehensive revamp of the iconic Old Trafford, as per The Times. Recent viral footage depicting fans being soaked due to a faulty roof during a match against Crystal Palace underscores the urgency for this upgrade.
Renovation discussions have prominently featured in the ongoing dialogues, with Ineos perceiving stadium improvements as pivotal to reassure the fanbase regarding the Glazers’ future role. An ambitious plan is already in place, including amplifying the stadium’s seating capacity to match Wembley’s impressive 90,000 seats.
Furthermore, this 25% stake acquisition is perceived as a precursor to a full-scale takeover. Investments aren’t just limited to the stadium; an overhaul of the Carrington training grounds is also on the cards.
Although the binding non-disclosure agreement from Ineos’ initial bid has kept them tight-lipped, post the anticipated board’s approval, the company aims to provide a comprehensive outline of its roadmap.
Yet, a contrasting narrative emerges from The Sun. Their sources hint at potential challenges Ratcliffe might confront in the Old Trafford redevelopment. Instead, immediate attention might be channeled towards bolstering the team’s on-field performance, possibly with player acquisitions in the forthcoming transfer window.