Red Devils

927 readers

2 users here now

All things Manchester United.

New to the community? Come say hi in the Welcome thread.

Got any suggestions on how we can improve and grow as a community? Let us know!

Basic rules:

Fuck the Glazers
Be civil to each other
No non-Manchester United/football content. Non-United content is allowed if it affects United in some way. Otherwise, use the Daily Discussion Thread
Fuck the Glazers
Before posting news, please refer to the Journalist Reliability Guide
Keep it legal - no streams please :)
Have fun!
Fuck the Glazers

founded 2 years ago

MODERATORS

Sir Jim Ratcliffe prepared to invest $300m for Manchester United infrastructure upgrades - The Athletic (theathletic.com)

submitted 1 year ago by kameecoding to c/reddevils

5 comments fedilink hide all child comments

Sir Jim Ratcliffe is prepared to commit $300million (£245m) of his personal wealth for infrastructure upgrades at Manchester United.

INEOS, the petrochemicals company owned by Ratcliffe, is set to purchase a 25 per cent stake in United from the Glazer family.

Ratcliffe’s $300m investment would come out of his own pocket and would not add to United’s existing debt, which stands at $650m. It has not yet been officially agreed or signed but the cash injection is expected to happen.

It would also be only an initial investment — insufficient to completely fix the notable problems at Old Trafford, the club’s 74,000-seater stadium, and at Carrington, their training complex — with significantly more investment required in the future.

INEOS has experience with big infrastructure projects, with the company having just undertaken a five-year project to construct a chemical plant in Antwerp which involves “building and installing similar infrastructure that you would find in any small town or village”.

you are viewing a single comment's thread
view the rest of the comments

[–] 2000mph 2 points 1 year ago

Well it's a start but it will only count for something if he can fully buy out the Glazers, otherwise the only people benefiting from his investment is them as they continue to leech more dividends from the club.