Sir Jim Ratcliffe has increased his stake in Manchester United though the money pumped in won’t be used to help Ruben Amorim in the January transfer window.
Ratcliffe Increases Manchester United Stake
Britain’s richest man paid around £1.2 billion for a 27.7 per cent share of the Red Devils back in February.
That deal with the Glazer Family saw Ratcliffe agree to pump £237m worth of funding into United.
Ten months later it has now been revealed that he has increased his stake in the Premier League side.
A filing listed on the US Securities and Exchange Commission has confirmed the final payment of £79m and a raise in shareholding to 28.94 per cent.
It also discloses that ownership of those shares has transferred from Ratcliffe to his Ineos company.
Why £79m Investment Won’t Go Towards January Spending
Reports have suggested that the £79m investment won’t go towards Ruben Amorim’s January transfer window kitty.
The Daily Mail report that the investment has been earmarked for infrastructure but will be used across the club.
Ineos have carried out a wide range of cost-cutting since their arrival at Manchester United. It’s claimed this will allow the cash injection to go to areas of need.
United aren’t expected to spend much in the January transfer window despite sitting in the bottom-half of the Premier League table.
Manchester United’s Turbulent Spell
Sir Jim Ratcliffe, despite increasing his stake, has overseen a turbulent spell at Manchester United since originally reaching a deal with the Glazer family.
Manchester United opted to keep Erik ten Hag after last season’s FA Cup triumph and made £200m available to him.
Only to then part ways with him in October, costing the club £15m in compensation.
Ruben Amorim was subsequently hired to replace Ten Hag, but the new Red Devils boss will have limited funds for the January transfer window despite Ratcliffe’s injection.
Under Amorim, Man United have won four games across all competitions, including last weekend’s win over Manchester City.
There was also the shock departure of sporting director Dan Ashworth. This was despite pushing so hard to bring him over from Newcastle.
