Ratcliffe's £245 million investment will not go to Ten Hag
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| Erik ten Hag/Getty Images |
Erik ten Hag will not get Sir Jim Ratcliffe's original £245 million investment in Manchester United for transfers, according to The Telegraph.
The paper writes: “Sir Jim Ratcliffe will invest $300 million (£245m) of his private funds into Manchester United this year although the purpose is as yet unclear - other than it will be for infrastructure projects.
“It is also expected - as first revealed by Sky News - that the Ineos billionaire’s acquisition of 25% of the club for £1.35 billion will be completed late this month. It is understood that the additional cash injection by Ratcliffe, which will be paid over the next few months, will not be spent on players’ wages or fees.
“Additionally, the £245 million will not add to the United debt - accrued by the Glazers over the course of their ownership to finance and refinance their original 2005 takeover - which currently stands at more than £1 billion.
“The latest development comes at another low for the club as Erik ten Hag’s second year in charge threatens to unravel. However, many questions remain, not least as to the likely destination of the £1.25 billion that Ratcliffe will pay for his share of the club.
There has been no firm indication whether that will go into a potential stadium rebuild, the playing squad or the personal fortunes of the six Glazer siblings who own the club’s main voting shares.”
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