Sir Jim Ratcliffe is unlikely to secure his minority stake at Manchester United before the close of the January transfer window, according to ESPN.
Ratcliffe and Sheikh Jassim entered the race to takeover the Red Devils earlier this year, but the latter pulled out of the pursuit amid the Glazers’ reluctance to sell the club.
The £5bn proposal was insufficient to convince them. Ratcliffe is now expected to buy a 25 per cent stake from the Glazer family, but a deal won’t be completed next month.
The British billionaire will gain control of the sporting operations at United with his investment, but ESPN claim that the deal will take some time to be ratified by the Premier League.
At the moment, an agreement is in the final stages with both sides reviewing the contracts to be signed.
An announcement to the New York Stock Exchange could be made before the New Year, but with the holiday season, the ratification process may not begin until the first week of January.
Ratcliffe has already made plans to overhaul United’s football structure with new backroom staff, but it will take between four to six weeks for the change in the club’s ownership model.
United receive frustrating news ahead of transfer window
The Red Devils are currently close to breaching the Financial Fair Play limits. As a result, they cannot spend in the winter transfer window unless money is recouped from sales.
The club could look into a potential loan deal at the turn of the year, but the fans will be disappointed from the fact that there may not be any marquee signings next month.
Ratcliffe has been in discussions over a minority stake for several weeks and in our view, the Glazers are to blame for the slow decision-making which could hamper United’s progress.
While their rivals could strengthen their squads during the upcoming transfer window, United may struggle to make any additions due to the slow developments lately.