Sir Jim Ratcliffe’s Ineos team are ready to “hit the ground running”, with final completion of the deal to take a 25 per cent stake in Manchester United due next week, i understands.
The Premier League has approved Ratcliffe and Ineos’ purchase of a minority stake after it passed the enhanced directors and owners tests.
The deal now just requires approval from the Football Association – said to be a “formality” – and some regulatory processes to be completed for it to be rubber stamped.
Once Ineos can officially start making changes, top priority is a new director of football.
i understands that Newcastle sporting director Dan Ashworth is still the top target to replace John Murtough, who is expected to leave his role as football director once Ratcliffe, right-hand man Sir Dave Brailsford and Joel Glazer take control of footballing matters at the club.
Insiders have revealed that the club are considering keeping Murtough on in some capacity at Old Trafford, but an elite sporting director is Brailsford’s most important first task.
No official approach has been made to Newcastle yet, with Ashworth in the early stages of his project in the north east and he is thought to be happy where he is.
Brailsford, a long-standing friend of Ashworth, is still keen to at least try to persuade him to join the Ineos revolution.
Brailsford’s role in persuading Omar Berrada to complete a sensational move from Manchester City to become new United CEO has given the club renewed belief they can attract any senior figure from any club.
The search has been narrowed down to only a handful of candidates, with a deal expected to be completed “very soon”. Brailsford is keen to have the hierarchical structure in place before helping oversee any overhaul of playing personnel.
Premier League approval was confirmed in overnight filings with the US Securities and Exchange Commission (SEC). Ratcliffe has extended his tender offer to purchase club shares from Wednesday until Saturday to help facilitate the deal, with i told things are progressing positively.
Man Utd’s to do-list
- Appoint a new director of football
- Find a new role for John Murtough
- Undertake a full audit of football affairs
- Overhaul playing personnel
- Take over from Glazers on business
- Modernise Old Trafford
A Premier League statement said: “Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United, and further investment of $300m in the club, has been approved by the Premier League board following the completion of the Owners’ and Directors’ Test (OADT).
“The board agreed to the change of the club’s ownership structure last week, and this has now been officially ratified by an independent oversight panel. The Premier League’s Owners’ Charter has also been signed.
“This is the first acquisition of control to be reviewed and approved by a new independent oversight panel following changes to the process which were agreed by Premier League clubs in March 2023. The Premier League now awaits confirmation of the transaction’s completion.”
The deal will now be completed before the Old Trafford game against Fulham on 24 February. Team Ineos will then be ready to start the formal audit of football affairs which Ratcliffe wants to be complete long before the summer transfer window.
When the deal was first agreed, the plan was for Ineos to take control of football operations but there is now a broad agreement with the Glazer family that their remit will also encompass the business side of United.
It is understood Ratcliffe will also give a press conference at which he will set out in detail some of his plans for Manchester United. Among the big ticket items are an overhaul of Old Trafford – with The Telegraph reporting last week suggesting he aims to renovate the ground to turn it into a “Wembley of the north” – and a restructure of football operations.
