According to report ‘Sir Jim Ratcliffe Acts on Erik ten Hag’s Future Post Manchester United Buy-Out’ Erik ten Hag, the manager of Manchester United, is said to be in line for reassurances regarding his future at the club, courtesy of a potential 25% stake acquisition by Sir Jim Ratcliffe.
The Dutchman’s position had been under scrutiny due to a disappointing start to the season, but he seems to have the confidence of INEOS chief Ratcliffe.
ESPN reports that Ten Hag will receive confirmation of his place in Ratcliffe’s United plans if the latter successfully secures a minority share for around £1.3 billion. With Qatari bidder Sheikh Jassim withdrawing from the race, Ratcliffe emerged as the frontrunner for investment. His strategy involves overseeing the sporting aspect of United.
A crucial board meeting is scheduled for Thursday, where a potential deal might be finalized.
The British businessman aimed to transition ownership away from the Glazer family’s control, although the family is expected to maintain the majority share, at least in the short term. Ratcliffe might consider another attempt at a full takeover in the future.
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United, under Ten Hag’s management, achieved a third-place finish in the Premier League and clinched the Carabao Cup last season. However, the current season has presented challenges, with the team positioned 10th in the league after eight games, resulting in four wins and four defeats. Additionally, they suffered losses in their initial Champions League fixtures against Bayern Munich and Galatasaray.
Following a defeat by Galatasaray at Old Trafford, discontent was voiced by fans through boos at the final whistle, given United’s six losses in their previous ten games. Ten Hag felt the pressure and empathized with the supporters’ frustration, acknowledging the need for improvement.
Regarding the recent Brentford match before the international break, it was deemed pivotal, with Scott McTominay, who had been overlooked by Ten Hag, playing a crucial role in securing three points with two late goals.
As the takeover uncertainty approaches resolution this week, Ten Hag finds solace in Ratcliffe’s backing.
However, potential changes in the managerial structure are looming, particularly concerning John Murtough’s position as football director, which is reportedly under threat. Monaco sporting director Paul Mitchell is being considered as a potential replacement.
Facts To Know About Sir Jim Ratcliffe
- He is a British billionaire, chemical engineer, and businessman.
- He is the chairman and chief executive officer (CEO) of the INEOS chemicals group, which he founded in 1998.
- INEOS is one of the largest chemical companies in the world, with a turnover of over $65 billion in 2021.
- Ratcliffe is a self-made billionaire, and has been described as a “hard-nosed businessman.”
- He is known for his aggressive deal-making and his focus on efficiency.
- Ratcliffe is also a keen sportsman and has completed a number of endurance challenges, including the Marathon des Sables and a three-month motorbike trek in South Africa.
Here are some additional facts about Sir Jim Ratcliffe:
- He was born in Failsworth, Greater Manchester, England in 1952.
- He studied chemical engineering at the University of Birmingham.
- He worked for BP for over 20 years before starting INEOS.
- He is a lifelong Manchester United fan and has made several attempts to buy the club.
- He is also the owner of Swiss football team FC Lausanne-Sport and French football team OGC Nice.
- He was knighted in 2018 for services to business and investment.
