Man Utd suffer another takeover delay as Jim Ratcliffe made to wait until 2024
Jim Ratcliffe's potential Man Utd investment assessed | Football Digest
The Manchester United takeover saga has been struck by the latest in a long string of delays as Sir Jim Ratcliffe waits to buy a 25 per cent stake in the club. Sir Jim has a clear path to winning the race after Sheikh Jassim bin Hamad Al Thani’s withdrawal, but United’s board is yet to sanction his £1.4billion deal.
According to the Mail, INEOS might not take over the club’s sporting operation in time for the January transfer window despite initial hope the buy-out could be passed on Thursday.
United’s 12 board members – including all six Glazer siblings – have a pre-planned meeting on Thursday afternoon to discuss financial matters.
But Sir Jim’s offer won’t be on the agenda, with lawyers said to be working on the finer details after he reached an agreement in principle with the Glazer family.
It’s reportedly a complex deal, with insiders warning that it could take weeks until it’s in a condition for United’s board to vote to ratify.
The report adds that once Sir Jim’s £1.4bn deal has been passed at Old Trafford, it will need to go through New York Stock Exchange and Premier League tests to ensure it meets requirements.
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Such a process could make Sir Jim wait until 2024 before he enters power at United, meaning he likely won’t be able to impact Erik ten Hag’s transfer window.
However, it’s claimed that United currently aren’t planning any major signings this winter unless they can offload players to comply with financial fair play rules.
Harry Maguire and Scott McTominay are potential players for whom United can recoup healthy fees, but both departures would require replacements.
Sir Jim and INEOS’ primary focus in the opening few months of their involvement will be reviewing the sporting operation in M16 before making any necessary changes to drive positive change.
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Chief executive Richard Arnold and football director John Murtough are expected to be under threat by the possible overhaul.
Sir Jim was openly critical about how the club had been run during his visit to Old Trafford and Carrington in March.
The 71-year-old businessman has also previously blasted United’s careless expenditure in the transfer market under the Glazers’ rule.
That is another aspect he will be keen to address in the summer, which looks increasingly likely to be the first transfer window INEOS will oversee.
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