British billionaire Sir Jim Ratcliffe has strengthened his grip on Manchester United, one of the world’s most iconic football clubs. The INEOS founder and chairman has paid approximately £79 million to acquire an additional 1.24% stake in the Premier League giants, taking his total shareholding to 28.94%.
The move, revealed in U.S. Securities and Exchange Commission (SEC) filings on Thursday, comes just a year after Ratcliffe formally agreed to pay £1.2 billion for an initial 27.7% stake in United. The latest investment sees him edge closer to the Glazer family, who have held majority ownership since their controversial takeover in 2005.
Funds Directed Away From January Transfers
Despite the cash injection, sources indicate that the additional funds will not bolster United’s transfer kitty for the January window. Instead, the money will be distributed across various areas of the club, which has been undergoing a period of cost-cutting under Ratcliffe’s stewardship.
The belt-tightening measures have already seen more than 250 employees face redundancy, while manager Ruben Amorim has been warned of a limited budget for January reinforcements. The financial constraints come as United posted losses exceeding £300 million over the past three seasons, underlining the scale of the challenge facing Ratcliffe.
Backlash Over Ticket Prices and Women’s Team Neglect
Ratcliffe’s tenure has not been without controversy. The 72-year-old has faced fierce criticism for hiking ticket prices, a move that has alienated sections of the United faithful. Questions have also been raised over the club’s commitment to its women’s team, with accusations that Ratcliffe has neglected this area of the business.
“The ticket price increase was a slap in the face for loyal supporters who have stuck by the club through thick and thin. It feels like Ratcliffe is more interested in the balance sheet than the fans.”
The billionaire has also come under fire for his role in the sacking of former manager Erik ten Hag, just five months after handing the Dutchman a contract extension. Sporting director Dan Ashworth was also axed within months of his £5 million arrival from Newcastle, further underlining the turbulence behind the scenes at Old Trafford.
Challenges Ahead for Ratcliffe’s United
As Ratcliffe tightens his hold on Manchester United, the path ahead appears littered with obstacles. Balancing the books while investing in the playing squad and infrastructure will be a delicate act, especially given the club’s recent financial woes. Repairing fractured relationships with fans and elevating the women’s team will also be key priorities.
Yet for all the challenges, the lure of restoring United to its former glories remains a tantalizing prospect. With Ratcliffe’s business acumen and deep pockets, allied to the club’s global brand and vast commercial potential, a revival cannot be discounted. The coming months and years will be a critical juncture in shaping the future of this storied institution.
As the Ratcliffe era gathers pace, all eyes will be on Old Trafford to see if the British billionaire can navigate the choppy waters ahead and steer Manchester United back to the summit of world football. It promises to be a fascinating chapter in the club’s illustrious history.
