Jim Ratcliffe has FINALLY completed his minority takeover of Man Utd (Photo: Getty)
The Manchester United Supporters Trust say they are ‘puzzled by and skeptical of’ Sir Jim Ratcliffe’s minority takeover of the club.
The INEOS billionaire has purchased a 25 per cent stake in the Premier League side for £1.3billion and has been handed control of their football operations.
The deal was finally confirmed on Christmas Eve – 13 months after the Glazer family announced they were ‘exploring strategic alternatives for the club’.
The news has, unsurprisingly, garnered a mixed reception from fans who while delighted with new investment would have preferred the Glazers to have sold the Red Devils for good after years of decline under their ownership.
These thoughts have been echoed by the Manchester United Supporters Trust (M.U.S.T), who issued the following statement shortly after the minority takeover was confirmed:
‘During 18 years of debt, decay and mismanagement, Manchester United fans have loudly and consistently called for change at our Club.
‘When the so-called Strategic Review was announced nearly a year ago, it finally appeared that the sale of the club was on the horizon, potentially bringing the new investment and new direction MUFC so clearly needs.
Man Utd fans have wanted the Glazers out for many, many years (Photo: Getty)
‘Against that backdrop, fans have very mixed feelings today. 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%.
‘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.
‘It is now incumbent on the Club’s owners and management to properly explain how this new structure will work, where the new investment will be directed and how it will benefit the team on the field.
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‘As the Supporters Trust, we expect to have discussions with the Club management and the INEOS team in the near future to understand their plans, and to put to them the very many questions fans have today.
‘Today might – just might – be a step forward for Manchester United after some very difficult years. But with the Glazers still in charge, people should understand that United fans will remain sceptical and wait for the proof in the pudding.’
The situation of minority shareholders being in charge of the football operations side of a club is highly unusual and as M.U.S.T say only time will tell if it will produce success at Old Trafford.
MORE : Sir Jim Ratcliffe speaks out after completing minority takeover of Manchester United
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‘We puzzle how any organisation can put its very core business in the hands of a minority shareholder.’