Sir Jim Ratcliffe’s proposed £1.3bn purchase of a 25% share in Manchester United is unlikely to have much impact on the club’s ability to spend in the transfer market.
The United board is expected this week to approve a deal to make the British billionaire a minority shareholder. Ratcliffe would take over running the sporting side of the business but financial fair play (FFP) restrictions make it difficult for any investor to provide extra resources for use on signings.
Ratcliffe and his team were shown the long-term vision in place at United in presentations made to them during the bidding process. They were given a picture of the progress made under Erik ten Hag and where the football operation is aiming to improve.
The six Glazer siblings, who are the majority shareholders, will vote with six other board members on whether to accept a deal with Ratcliffe, who has experience of running sports teams, owning Ineos cycling and Ligue 1’s Nice.
This summer United spent about £177m on players, paying transfer fees for André Onana, Rasmus Højlund, Mason Mount and Altay Bayindir, signing Sergio Reguilón and Sofyan Amrabat on loan and getting Jonny Evans for free.
United tend to do only minor business in January and money is available for next summer regardless of any deal with Ratcliffe. Ten Hag is keen to not have too big a squad, even though a large number of injuries at the start of this season has left United short in certain areas, but will be keen to strengthen. Players surplus to requirements will be put up for sale to help bolster the budget.
One player who will not be part of United’s plans next season is Mason Greenwood. The 21-year-old joined Getafe on a season’s loan in the summer after it was decided he should continue his career away from Old Trafford at the end of a six-month internal investigation into allegations against the striker, and the club will stand by their decision not to make him available to Ten Hag.
Greenwood’s Manchester United contract runs until 2025 but he will not be permitted to reintegrate into the squad after his loan at Getafe, leaving the club open to selling him next summer.
The player was arrested in January 2022 and charged that October with attempted rape, controlling and coercive behaviour, and assault occasioning actual bodily harm. Greenwood denied all the charges and they were dropped in February when the Crown Prosecution Service said there was “no longer a realistic prospect of conviction” after key witnesses withdrew their cooperation from the investigation and new evidence had come to light.
Greenwood has made five appearances for Getafe and scored his first goal in a 2-2 draw at Celta Vigo in their most recent fixture.
Sir Jim Ratcliffe questioned Manchester United’s recent transfer policy during his visit to the club in March, with the prospective new minority owner citing the previous summer’s acquisition of Casemiro as an example of what he views as questionable recruitment.
Ratcliffe, whose bid to purchase 25% of the club is expected to be voted on during a board meeting on Thursday, believes United run a productive commercial operation but that investment in the squad could be markedly improved.
Aerial view of Old Trafford.
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Ratcliffe raised this during the presentation given to him on 17 March by the United hierarchy in the Jimmy Murphy Centre at the club’s Carrington training base. Richard Arnold, the chief executive, and John Murtough, the football director, were among those in attendance.
Ratcliffe suggested the choice of the players signed by United in the past few seasons had not always been the most prudent. As an example he pointed to Casemiro’s purchase for €60m the previous August from Real Madrid. The midfielder was 30 years old and was given a four-year contract of about £350,000 a week.
Casemiro enjoyed a standout debut season, scoring in February’s 2-0 Carabao Cup final triumph over Newcastle, but this season he has appeared off the pace and his form has faltered.
Nice, the club Ratcliffe owns, recruited Aaron Ramsey, Kasper Schmeichel and Ross Barkley among more than 10 signings in the summer when Casemiro joined United. Schmeichel was 35 and signed a three-year contract in a £1m transfer from Leicester; Ramsey, then 31, and Barkley, then 28, came on frees and were given one-year contracts. All three players left Nice this summer.
Ratcliffe’s views on recruitment may call into question the futures of Arnold and Murtough. Arnold, United’s most powerful executive, has overall responsibility for recruitment, while Murtough takes the lead in identifying potential targets. As part of the £1.3bn offer Ratcliffe, the Ineos owner, has made for a quarter share of United he wants control over the football department.
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