Manchester United could be in for their biggest structural change since 2005 before the end of the year. But crucial questions surrounding Sir Jim Ratcliffe are still unanswered.
On Saturday night, Manchester United desperately need more points at Premier League bottom side Sheffield United to further correct their false start to the new season. But the far more important deadline is probably two days away: a meeting of the 12-member board of directors is scheduled for Thursday – at which the most important directional decision in years will be debated.
Sir Jim Ratcliffe, head of the chemical company Ineos and one of the richest Britons, is close to acquiring 25 per cent of the club’s shares, according to English media reports, and could receive the green light for his entry on Thursday. It would be the temporary end of a months-long poker game, in which a consortium around the Qatari Sheikh Jassim Bin Hamad Al Thani was also involved for a long time, before it apparently withdrew its offer last week, although this has still not been officially confirmed.
With Ratcliffe, the Glazer family, who have been in charge of the club since 2005 and are hated by some fans, would relinquish some of their control for the first time. Ratcliffe is likely to be looking to take a first step towards a full takeover by acquiring 25 per cent of the club. He is reportedly willing to pay the equivalent of 1.5 billion euros, which would be the equivalent of the six billion US dollars (about 5.7 billion euros) the Glazers are said to value the club at. Al Thani, who reportedly wanted to push the Glazers out of the club altogether and accordingly carried the hopes of large sections of the fans, was clearly not prepared to pay such a sum.
The Glazers occupy six of the twelve board positions
If Ratcliffe does get a foot in the boardroom in the near future, it will be particularly interesting to see how it is structured thereafter, as well as in what form and in what areas the 70-year-old will have a say. Currently, the Glazers hold six of the twelve board positions. However, the fans will have to wait a while longer for the kind of massive investment in the squad, the stadium and the training ground that Al Thani had envisaged in the event of a successful takeover.
