Sir Jim Ratcliffe will allegedly allow Joel Glazer to still maintain a key footballing role at Manchester United in the structural realignment, despite Ineos key personnel supposedly moving in to take control of the club’s sporting matters.
Ineos owner Ratcliffe is reportedly agreeable to the hugely unpopular Joel to have a place on the club’s new ‘football committee’ when Ratcliffe, 70, successfully completes his £1.4bn deal in the ensuing weeks to not only acquire 25 percent of United but also helm the club’s footballing operations. Sports chiefs from Ineos, namely Sir Dave Brailsford and Jean-Claude Blanc, are expected to play key roles. The unexpected news is that Joel will also have a say.
The Financial Times reports that Joel is to sit on the newly-found committee overseeing football matters, with the news immediately upsetting supporters who have long been anxious for the Glazer family to have no control over the sporting side of the club after years of failure although the American owners are likely to retain control of commercial operations.
United chiefs have also allegedly discussed the prospect of raising additional funds which would be used for the club by selling further shares which are currently listed on the New York Stock Exchange. This option could allow Ratcliffe to further increase his stake while injecting funds directly into United.
There is as yet no clarity over how much fiscal power Ratcliffe will hold once the £1.4bn move is confirmed. As it stands, United have a bespoke share structure, with Class B shares exclusively held by Glazer family members being worth 10 times their Class A equivalent when it comes to voting on important club decisions.