Premier League ‘could make Sir Jim Ratcliffe wait until MID-JANUARY before taking over Man Utd transfer business’
SIR JIM RATCLIFFE will be forced to wait until mid-January before his takeover of Manchester United is complete.
The British billionaire is finalising a deal to buy 25 per cent of the club from the Glazers for £1.3billion.
PASir Jim Ratcliffe is ready to buy 25 per cent of Man Utd[/caption]
Man Utd were put up for sale by the Americans a year ago and Ratcliffe is going to need further patience before he can fund the Red Devils.
This is because there is set to be a six to eight week wait from the takeover being announced to when Ratcliffe’s deal can get the all clear from the Premier League.
The Telegraph report that during this time the INEOS owner will not be allowed to pump cash into the club.
Ratcliffe’s investment is set to hand the Glazers £650million from the sale of their Class B shares, which have ten times the voting power of A shares that are publicly traded.
The other half of the money will go to various minority shareholders.
Ratcliffe also reportedly plans to invest a staggered £250m into the club’s infrastructure.
Despite not being able to properly run things until the new year, he is already getting United into shape ahead of his arrival with chief executive Richard Arnold sacked.
Ex-Juventus CEO Jean-Claude Blanc, who now works for INEOS Sport, is an emerging favourite to takeover from him.
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Meanwhile, Crystal Palace director Dougie Freedman is also in the running.
And British cycling mastermind Sir Dave Brailsford is set to also assist sporting operations with Ratcliffe.
They will supposedly be in charge of the football side of Man Utd, including transfers.
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