Sir Jim Ratcliffe promises £245m investment for Manchester United infrastructure

He is set to commit his own funds to improving facilities.

Sir Jim Ratcliffe promises £245m investment for Manchester United infrastructure
British INEOS Group chairman and OGC Nice's owner Jim Ratcliffe looks on before the French Cup final football match between OGC Nice and FC Nantes at the Stade de France.
The British billionaire is set to commit his own funds to improving facilities (Picture: Getty)

Sir Jim Ratcliffe is reportedly set to promise £245million of additional investment to help improve the infrastructure at Manchester United.

The British billionaire is set to have an offer worth in the region of £1.3billion for a 25 per cent stake in the club accepted by the United board when they meet on Thursday to discuss the offer.

It follows a long, drawn-out bidding process with the Glazers who have considered several buyers, most notably Qatari businessman Sheikh Jassim bin Hamad al-Thani.

Ratcliffe had initially intended to buy the club outright but has settled for a minority stake in the club through his company Ineos.

As part of the agreement, Ratcliffe has also reportedly negotiated a clause that grants him and Ineos control of sporting matters with the Glazers set to take a back seat.

And according to Sky News, one of the first items on his agenda will be to address the infrastructure at the club, with renovating Old Trafford a key priority.

However, the investment for such improvements will not come at the cost of the club or add to their existing debts but will instead be financed solely from the 71-year-old’s personal fortunes.

General view outside the stadium as fans arrive prior to the UEFA Champions League match between Manchester United and Galatasaray A.S at Old Trafford on October 03, 2023 in Manchester, England.
Old Trafford has long been in need of renovation (Picture: Getty)

The £245m worth of investment is said to be staggered but the majority of the money will end up with the club by the end of 2023.

The training facilities at Carrington are also likely to receive funds but the main focus will likely be on the stadium which was snubbed as a venue for Euro 2028 due to its current condition.

Gary Neville has been one of many vocal critics of the lack of investment in the stadium from the Glazers, brandishing it as ‘shameful’.

‘They have overseen a decline for 20 years in which it has gone from being one of the best stadiums in the world to one that can’t even get into the top 10 in the UK and Ireland,’ Neville added.

‘This is an all-time low. That it is not in the best 10 to host a tournament is a joke. There has been no investment. It is a rusty stadium. This is a dereliction of duty.’

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