Top source drops worrying Ratcliffe takeover update Man Utd fans will hate
David Ornstein has clarified when Sir Jim Ratcliffe’s partial takeover of Manchester United could be finalised amid multiple delays, while a full takeover that would finally oust the Glazer family could take “way longer” than expected.
Ratcliffe is primed to purchase a 25 percent stake in Man Utd worth roughly £1.3bn. The British billionaire, 71, is planning sweeping changes at Old Trafford and reportedly plans to invest £245m into revamping the club’s ageing infrastructure.
Elsewhere, change at boardroom level is already taking place. CEO Richard Arnold will step down before the end of 2023, while director of football, John Murtough, is also expected to be replaced.
The Sun claimed Ratcliffe wants to oversee a ‘reset’ of Erik ten Hag’s ailing squad. The Manchester Evening News named 10 players including several major names who could be axed.
But of more immediate concern to Man Utd fans is when will Ratcliffe’s partial takeover finally cross the line.
Responding in a Q&A for The Athletic, the ultra-reliable David Ornstein weighed in and offered a concerning update on the long-term timeline on ousting the unpopular Glazer family.
Most Man Utd fans hope to see the back of their current owners sooner rather than later. Various reports have claimed Ratcliffe is purchasing his 25 percent with a view to ultimately buying out the Glazers entirely by 2026 at the latest.
But per Ornstein, the fact Ratcliffe’s initial entry into the club is taking so long would suggest any longer-term moves may take “way longer” than first thought.
Furthermore, Ornstein stated there’s unlikely to be any formal structure in place regarding Ratcliffe becoming United’s majority owner.
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Ornstein on Ratcliffe takeover and multiple delays
An Athletic subscriber asked: “Do you think Sir Jim Ratcliffe will have a concrete route to majority ownership at Manchester United as part of his deal with the Glazers? It is the key issue impacting United’s future.”
Ornstein replied: “I assume he wouldn’t be coming in with 25 per cent and sporting control as the end goal.
“That makes me think there will be a roadmap of sorts but, if so, I’m not sure if that will be formal, or not at this stage.
“The complexity and time it is taking to finalise the initial deal suggest any further steps will take way longer to put in place.
“Perhaps there is a framework of sorts, but I wouldn’t expect to hear anything formal on that for the time being — and remember, United are listed on the New York Stock Exchange, so anything of this nature would need to be notified there first.
“That said, it’s something I’m certain Ratcliffe will be asked about if/when he speaks publicly.
“Some inside the club were initially expecting there might be an announcement nearly two weeks ago, on the Friday before Sir Bobby Charlton’s funeral, then INEOS, Ratcliffe’s company, targeted early in the following week (after the service).
“But that didn’t happen and now the United States is in Thanksgiving Day mode, so it won’t come until next week at the earliest.”
But while Ornstein’s update will no doubt cause trepidation among much of United’s fanbase, Ornstein concluded by confirming the Ratcliffe’s initial investment being finalised is a matter of when and not if.
“It’s clearly very complex but we are led to believe everything is on track and it is a matter of ‘when’ rather than ‘if’ the investment will be confirmed,” added the reporter.
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