According to reports, Manchester United co-owner Sir Jim Ratcliffe could make a new ‘demand’ to influence their ‘regeneration project’ at Old Trafford.
Ratcliffe’s takeover – completed at the start of 2024 – was met with immense positivity as he ended the Glazer family’s stint in charge at Old Trafford.
The INEOS supremo only purchased an initial 27% stake in the Premier League giants, but this deal saw him take control of footballing matters at Man Utd.
The British billionaire has been keen to make wholesale changes at Old Trafford and he’s become increasingly unpopular over the past year.
Ratcliffe has sanctioned a major cost-cutting programme that includes mass redundancies, cuts to Christmas bonuses and removing privileges for the Busby Babes. Ticket prices for home supporters have also been hiked.
READ: Sir Jim Ratcliffe is ‘skint basically’ so Man Utd are ‘screwed’
United’s co-owner has done what he feels is necessary to raise funds for a squad rebuild and a lot of work is required with the Premier League giants languishing in the bottom half of the table.
Ratcliffe has also overhauled United’s recruitment team, with chief executive Omar Berrada and technical director Jason Wilcox among their leaders following Dan Ashworth’s brief stint as sporting director.
Moreover, there are plans for Man Utd to move away from Old Trafford with Ratcliffe hoping to build a 100,000-seater Wembley of the North.
While Ratcliffe’s initial deal was worth around £1.25bn, he has since raised his stake to around 29% for a further £238m.
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In a new ‘shock Man Utd takeover update’, a report from Football Insider claims Ratcliffe ‘could demand more shares in the club to help fund the Old Trafford regeneration project’.
‘United’s stadium regeneration task force – which includes Manchester mayor Andy Burnham and ex-defender Gary Neville – is considering plans to either expand Old Trafford or build a new facility altogether.
‘Ratcliffe is currently looking to source the necessary funds for the redevelopment project after taking over the footballing operations at Old Trafford.
‘Sources have told Football Insider INEOS would not put money into the club to help finance the development without securing more shares from the Glazers.
‘Chancellor Rachel Reeves has revealed she is backing the project as “a shining example” of government plans to promote economic growth.
‘Plans are in place for the regeneration of the Old Trafford area, with the stadium development at the heart of the proposals.
‘Man United’s new stadium plans could cost the club more than £2billion as they will be financially responsible for that part of the project.’
