Former Manchester United manager Sir Alex Ferguson has backed British Billionaire Sir Jim Ratcliffe’s 25 per cent takeover of Man United.
Ratcliffe, who is the CEO of INEOS is on the verge of completing a 25 per cent stake of Manchester United in a deal worth £ 1.3 billion and will be handed sporting control at Old Trafford.
Read also: Alex Ferguson to lead Ratcliffe’s reform at Manchester United
The 71-year-old, who already owns OGC Nice and Lausanne-Sport and a third of the Mercedes F1 team, has already had an impact, with Richard Arnold quitting as chief executive ahead of Ratcliffe’s arrival.
Sir Ferguson, who is a member of the United board, expressed optimism that Ratcliffe’s £1.3billion investment will lead to better times for Manchester United.
“I am still a director of the club and I know Jim [Ratcliffe] well. We shall have to see what he does but I am optimistic.” Ferguson said as reported by The Mirror UK.
Ratcliffe wants to drastically improve United’s football operation and sources claim he is expected to lean on Ferguson for advice and guidance.
With Ratcliffe’s ownership, there’s expected to be a significant reshuffle in the United hierarchy; it was confirmed last week that Richard Arnold would be leaving his position as chief executive officer by the end of December, while Jean-Claude Blanc is rumoured to be his long-term successor.
Red Devils have seen a massive decline since Ferguson’s retirement and using his expertise would certainly be a popular move by Ratcliffe with the club’s fans, who still worship the multiple trophy winner.
The Glazers have made no positive impact on the footballing side at Man United in the last decade and fans have on several occasions protested their ownership of the club.
Read also: Shake-up looms at Man United as Ratcliffe nears 25% takeover
United have spent over £ 1 billion since Ferguson’s retirement in 2013 and have little to show for it, and that is why reports are suggesting John Murtough’s job as sporting director is at risk. Sir Jim Ratcliffe looks set to take control of footballing matters imminently, once his 25 per cent stake in the club is ratified.
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