Man Utd Supporters' Trust issue statement after Sir Jim Ratcliffe deal confirmed
The Manchester United Supporters' Trust (MUST) want to see the "proof in the pudding" before judging Sir Jim Ratcliffe's investment.
British petrochemicals mogul Ratcliffe has finally agreed a £1.3billion deal with the Glazers to acquire a 25 percent stake in the club, which crucially gives his INEOS Group control over the club's football operations. Ratcliffe, 71, is a boyhood United fan and has pledged a further investment of $300million (£236m) into the club, but MUST are wary that the power ultimately still lies with the club's much-maligned owners, the Glazer family.
The Americans have been in charge since 2005 when they orchestrated a controversial leveraged buyout, with absent family members becoming increasingly unpopular during their 18-year tenure, a period which MUST won't be forgetting amid the Ratcliffe fanfare. "During 18 years of debt, decay and mismanagement, Manchester United fans have loudly and consistently called for change at our Club," their statement said.
"When the so-called Strategic Review was announced nearly a year ago, it finally appeared that the sale of the club was on the horizon, potentially bringing the new investment and new direction MUFC so clearly needs. Against that backdrop, fans have very mixed feelings today.
"We welcome the investment from a boyhood red, Sir Jim Ratcliffe and his INEOS company, but many will wish his ownership stake was greater than the initially rumoured 25 per cent. We note the statements that he and his team will control sporting activities, yet puzzle how any organisation can put its very core business in the hands of a minority shareholder, and how that meaningfully works in practice.
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"It is now incumbent on the Club's owners and management to properly explain how this new structure will work, where the new investment will be directed and how it will benefit the team on the field. As the Supporters Trust, we expect to have discussions with the Club management and the INEOS team in the near future to understand their plans, and to put to them the very many questions fans have today.
Get involved! Is Sir Jim Ratcliffe's investment good for Manchester United? Join the debate in the comments section.
Sir Jim Ratcliffe's INEOS will invest $300million (£236m) (AFP via Getty Images)"Today might – just might – be a step forward for Manchester United after some very difficult years. But with the Glazers still in charge, people should understand that United fans will remain sceptical and wait for the proof in the pudding."
There'll be a six-week ratification period before Ratcliffe officially comes on board, although he's likely to be working hard behind the scenes during the January transfer window. Manager Erik ten Hag is despite for reinforcements, with results slumping.
Sunday's 2-0 defeat away to West Ham leaves Ten Hag's side eighth in the table at Christmas, having picked up just 28 points from their first 18 games, boasting a humiliating minus five goal difference.
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