Tag: Ratcliffe

Ratcliffe reportedly betrays Ten Hag’s trust, sort for Carlo Ancelotti as new manager

Incoming Manchester United owner Sir Jim Ratcliffe has reportedly approached Carlo Ancelotti about taking over as the club’s manager. TEAMTalk reported that Ratcliffe who is set to acquire a 25% stake of Old Trafford for £1.3 billion, is contemplating major changes within the club, including managerial shuffle. Despite Ten Hag’s arrival in June last year and some notable signings during the summer transfer window, Manchester United’s performance this season has been inconsistent. The team currently sits sixth in the Premier League, six points behind the leaders, Arsenal.

Carlo Ancelotti – Getty image The recent exit from the League Cup and a challenging position in the Champions League Group A further add to Dutch manager’s pressure. Meanwhile, Ancelotti’s contract with Real Madrid expires at the end of the season, making him an attractive target for Manchester United.

Man United spends £1m monthly on lawyers to sell 25% shares to Ratcliffe

Man United spends more than Bruno Fernandes earnings weekly in a bid to sell 25% shares to Sir Jim Ratcliffe – Getty image The Glazer family is reportedly spending £250,000 per week in legal and consultancy fees, for the sale of 25% shares to Sir Jim Ratcliffe. This staggering amount surpasses the weekly earnings of club captain Bruno Fernandes who earns £240,000 per week.

Man United spends more than Bruno Fernandes earnings weekly in a bid to sell 25% shares to Sir Jim Ratcliffe – Getty image Meanwhile, the prolonged sales process, now exceeding a year, has accumulated costs equivalent to £1 million each month, as outlined in the club’s recent accounts. Sun Sports reports that since the sale was initiated in November 2022, the club has disbursed £7 million in legal and associated fees to US-based financial advisors Raine Group. The ongoing negotiations are gradually getting towards the potential £1.3 billion deal with Sir Jim Ratcliffe, who wants an immediate acquisition of an initial 25% stake at the club.

lawyers Man MONTHLY Ratcliffe sell Shares spends United

Jim Ratcliffe to invest more money than Sheikh Jassim offered

Sir Jim Ratcliffe will reportedly provide more funds into Manchester United than Sheikh Jassim, despite purchasing only a 25% stake in the club. The takeover which is expected to be announced by next week, will see Ratcliffe take a minority position but with serious influence over the club’s sporting department. INEOS, Ratcliffe’s company, will collaborate with Joel Glazer to form a committee overseeing the club’s sports strategy. The Sun UK said Ratcliffe plans to invest £245 million from his personal funds this year, with a total expected investment of £1.6 billion to enhance facilities like Carrington training ground and support the academy and both first-teams. Sir Jim Ratcliffe – Getty image In contrast, Sheikh Jassim, the main bidding rival, had proposed a £1.4 billion investment, but withdrew from the process due to fee disagreements with the Glazers and the insistence on a 100% stake. Ratcliffe aims to complete the takeover by January, with a focus on financial management and possible appointment of a new sporting director, with Paul Mitchell among the top contenders.

Invest Jassim Jim money offered Ratcliffe Sheikh

Ratcliffe reveals he has formally entered race to buy Manchester United

Sir Jim Ratcliffe, the billionaire owner of petrochemicals firm, INEOS, has announced that he has officially entered the race to buy Premier League club, Manchester United. The British billionaire and lifelong Manchester United fan is now expected to make an offer to United owners, the Glazer family, who outlined their willingness to sell the Premier League club in November. A spokesperson for Ratcliffe told The Times: “We have formally put ourselves into the process (of buying United).” Ineos has entered the bidding process to buy Manchester United. “We have formally put ourselves into the process of bidding”, spokesman has told Times Sport’s @DickinsonTimes 🔴 #MUFC Sir Jim Ratcliffe is the first one to go public — with other groups now also interested. pic.twitter.com/MD6q2zZefx — Fabrizio Romano (@FabrizioRomano) January 17, 2023 Those interested in buying the club, have to register with Raine Group, the bank handling the sale of the club for the Glazer family. This is also coming at a time Manchester United manager Erik ten Hag and his players have delivered a remarkable upturn on the pitch. Ratcliffe had previously indicated his interest to buy the club. However, INEOS said last summer that it was no longer interested in bidding for any Premier League club and would, instead, focus its attention on French team Nice, which it already owns.

That position has changed now that United’s American owners, the Glazer family, are prepared to sell. Late tycoon Malcolm Glazer bought United in 2005 for 790 million pounds (then about $1.4 billion). Ratcliffe also made a late bid to buy Chelsea last year when former owner Roman Abramovich put the London club up for sale. A consortium led by Todd Boehly and Clearlake Capital eventually secured a deal worth 2.5 billion pounds ($3 billion) for Chelsea, which also included a commitment of 1.75 billion pounds ($2 billion) of further investment.

Ratcliffe was born in Greater Manchester and has a pedigree in owning sports teams. Listed 27th on the 2022 Sunday Times Rich List with a net worth of over £6 billion ($7.4bn), he is the founder and CEO of chemicals company INEOS, which sponsors the Mercedes AMG Formula One team and owns the INEOS Grenadiers cycling team.

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