Sir Jim Ratcliffe is set to invest £245 million into the rebuilding of the infrastructure at Manchester United after his partial takeover is approved this month, according to Sky News.
The British billionaire has agreed a deal with the Red Devils owners – the Glazers – which would see him acquire a 25% stake in the club.
The deal is likely to be worth more than £1.25 billion and will be officially unveiled before the end of November.
Ratcliffe has pledged the £245m investment alongside the acquisition of a quarter of Man United, and it would be ununiformly distributed, with a bulk of it being handed to the club by the end of 2023.
It would not add to the club’s existing borrowings as it would be financed by Ratcliffe, and the soon-to-be Man United co-owner also has plans to invest additional sums going forward.
The club’s facilities need major upgrading, with Cristiano Ronaldo criticising the gym at the Carrington training ground during his ill-fated second spell with the Red Devils.
Gary Neville also mocked the leaking roof at Old Trafford on Sunday after their 3-0 loss to Manchester City.
£245m will not be enough to turn the stadium and training facilities into a world-class own, but the multi-million investment will go a long way.
Arsenal and Tottenham Hotspur have changed stadiums, while Everton are planning on moving to their new ground currently under construction, but Man United have regressed under the Glazers as Old Trafford is a relic of the past.
Ratcliffe wants to change that, and while his partial takeover has not impressed the fans, it could be the start of something positive for the first time in a decade.
