The agreement for Sir Jim Ratcliffe to acquire a minority share in Manchester United included certain upfront expenses.
The Daily Mail claims that Sir Jim Ratcliffe’s agreement to buy a minority share in Manchester United cost the team over £40 million. Earlier this year, the Red Devils sold the owner of Ineos 27.7% of the team.
The third quarter’s financial data, which were made public, indicate that United continued to spend £30.6 million on legal fees in addition to the £9.6 million that was disclosed in the preceding quarter.
With United completing a revamp off the field under Ratcliffe, the club allegedly believes the “expenditure was necessary” to complete the transaction and that the long-term rewards will make it worthwhile.
With over £50 million already invested in the club’s infrastructure, including a makeover of the Carrington training complex, Ratcliffe has committed to an investment of over £200 million. For the fiscal year, the club is expected to bring in £660 million in income.
Earlier this week, manager Erik ten Hag supported Ratcliffe’s efforts to successfully revitalize United. “They can assist us now that new ownership has taken over,” the United boss stated. They offer a great deal of support. We’ve developed a methodology over the course of the summer, and now we’re well-positioned to launch an assault.
“The best training ground in English football is something we truly have to look forward to, but right now is what matters most. They performed a fantastic job bringing this facility up to code and making it functional for us to work in a professional manner in the modern world. This place was disorganized four weeks ago; today it is extremely well-organized.
