Sir Jim Ratcliffe has increased his stake in Manchester United, but a £79 million ($100m) deal will not boost the Red Devils’ January transfer kitty.
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- INEOS chief increases stake to 28.94 per cent
- Has made some unpopular decisions at Old Trafford
- Injection of funds intended to improve infrastructure
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- Getty
WHAT HAPPENED?
Britain’s richest man paid around £1.2 billion ($1.5bn) for a 27.7 per cent share of the Red Devils in February 2024. As part of that deal, which was struck with the Glazer family, Ratcliffe agreed to pump £237m ($300m) worth of funding into United.
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THE BIGGER PICTURE
It has now been revealed, in a filing listed on the US Securities and Exchange Commission, that Ratcliffe has increased his stake to 28.94 per cent with a £79m outlay. Official ownership of his shares has been transferred to the INEOS company – bringing United in line with his other sporting ventures.
- AFP
DID YOU KNOW?
According to the , the funds injected into United by Ratcliffe will not make their way to manager Ruben Amorim and efforts to bolster his squad at the turn of the year. Instead, they have been earmarked for improvements to club infrastructure.
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Ratcliffe and Co made approximately £200m ($253m) available to former United boss Erik ten Hag in the last transfer window, only to part with the Dutchman's services in October. Compensation there has cost the Red Devils £15m ($19m), while former sporting director Dan Ashworth is also being paid off after just five months in Manchester.