British billionaire Sir Jim Ratcliffe secures a deal to oversee the sporting side of Manchester United, Erik ten Hag will be assured of his place in the club’s plans according to reports.
Ratcliffe, the founder of INEOS, a chemicals company, is looking to acquire a 25% stake in the club through a £1.3 billion ($1.58 billion) investment.
Ratcliffe aims to have an influence on the football operations but, as per the source, any proposed changes will not involve replacing Erik ten Hag.
The Dutchman led Manchester United to a third-place finish in the Premier League and secured the Carabao Cup in his first season as manager.
Despite a challenging start to the current campaign, with six losses in 11 games in all competitions, INEOS prefers to retain Ten Hag as the manager.
A crucial board meeting for Manchester United is scheduled for Thursday, during which a potential agreement with Ratcliffe and INEOS could be finalised.
Sir Jim Ratcliffe is well aware that his bid to purchase a minority stake in Manchester United may not sit well with fans due to the continued ownership of the Glazer family within the club.
However, Ratcliffe harbours hopes that this initial 25% acquisition could pave the way for a potential full takeover down the road. In the interim, the Glazers will retain their majority ownership.
For many fans, there had been high hopes that the Glazers’ 18-year ownership of the club might come to an end when it was first announced in November that the American family was considering selling the club.
However, recent developments revealed that the single offer for 100% control of the club from Sheikh Jassim had been withdrawn. This Qatari businessman withdrew from the process, citing the Glazers’ “fanciful” valuation as a primary reason.
Sheikh Jassim’s final offer fell short of the Glazers’ asking price by about £1 billion, with a total worth of approximately £5 billion.
Should Ratcliffe’s bid be successful, he is expected to unveil ambitious plans for Manchester United’s future in an effort to ease any supporter unrest.
These plans are likely to encompass proposals for the redevelopment of Old Trafford, potentially increasing the stadium’s capacity from 76,000 to 90,000.