Manchester United supporters have been unhappy with the direction their club has been heading in under the Glazers (Picture: Getty)
Sir Jim Ratcliffe has written directly to the Manchester United Supporters’ Trust outlining his total commitment to restoring the club to its former glories.
The Ineos Group chairman has agreed to buy a 25 per cent stake in Manchester United and inject around £236million into the club, the Red Devils have announced.
Ineos, who will assume delegated responsibility for the club’s football operations, and United have entered an agreement under which he will acquire 25 per cent of the Class B shares held by the Glazer family and up to 25 per cent of the Class A shares while investing £236.7million into its infrastructure.
The Christmas Eve announcement was met with a mixed response from MUST after Ratcliffe’s initial investment left the Glazers still in overall charge at Old Trafford.
‘Against that backdrop, fans have very mixed feelings today,’ read a statement. ‘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.’
Ratcliffe has moved quickly to open the lines of communication with the influential fans’ group but has indicated he will require patience in order to fulfil his objectives.
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‘I wanted to write to you at this time given the critical role of the fans to the future of Manchester United as we recognise our responsibility as custodians of the Club on your behalf,’ read Ratcliffe’s message.
‘I believe we can bring sporting success on the pitch to complement the undoubted commercial success that the club has enjoyed.
‘It will require time and patience alongside rigour and the highest level of professional management.
‘You are ambitious for Manchester United and so are we.
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‘There are no guarantees in sport, and change can inevitably take time but we are in it for the long term and together we want to help take Manchester United back to where the club belongs, at the very top of English, European and World Football.
‘I take that responsibility very seriously.
‘Please note that, as with any deal, it is subject to the usual regulatory sign-off process and therefore we do not expect to speak publicly about Club matters until after the deal has completed.’
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