- French footballer Ben Yedder on trial for sexual assault
- India foreign minister in arch-rival Pakistan for rare visit
- Restored 'Apollo Belvedere' marble back on show in the Vatican
- Lagos festival dances to Nigerian icon Fela Kuti's beat
- Italian PM hails 'courageous' Albania migrant deal
- 'Tragedy in Jabalia' as Israel army tightens siege in north Gaza
- Draft UN climate pact leaves open thorny question of money
- Two giant pandas arrive in US from China aboard 'Panda Express'
- Musiala and Upamecano return to Bayern training
- Wirtz return 'unclear' after injury on Germany duty
- Ghulam says 'wait is over' after century on Pakistan debut
- Boeing to raise up to $25 bn as strike weighs on finances
- Two giant pandas arrive in US from China
- Japan hold Australia, S. Korea and China win in World Cup qualifying
- Mbappe's golden-boy image takes a hit amid negative headlines
- Hezbollah threatens to attack targets across Israel
- Oil prices fall on easing Middle East fears
- Wales lock Jenkins to miss November Tests with 'horrible' injury lay-off
- France to play Israel in Paris and allow fans in
- Twin panda cubs to make public debut at Berlin zoo
- Scotland's Kinghorn maintains Lions 'dream' despite Toulouse clash
- Pakistan debutant Ghulam hits century to defy England in second Test
- Boeing announces intention to raise up to $25 bn
- Tuchel 'in talks with FA' over England manager's job
- Dutch rider Lavreysen targets record at world track championships
- Bangladesh suspend Hathurusingha as coach after alleged assault
- Russian Olympic chief announces surprise resignation
- Ferguson to leave Man Utd ambassador role as club cuts costs
- Turkish govt defends tax plan to fund defence industry
- Oil prices tumble on easing Middle East fears
- Eidevall quits as Arsenal Women head coach
- US, Philippines launch war games after China's Taiwan drills, ship collision
- Swedish prosecutor confirms 'rape' probe without naming Mbappe
- England dismiss Ayub but Pakistan reach 173-3 at tea in second Test
- Israel vows to put 'national interest' first in response to Iran attack
- Oil prices hit by easing Middle East fears, most Asian markets rise
- Mbappe-PSG salary row faces hearing as France captain cited in 'rape' report
- K-pop star tells South Korea lawmakers of workplace bullying
- Ex-Wallabies captain Elsom denies wrongdoing after arrest warrant
- Pakistan 79-2 at lunch in second England Test after Leach strikes
- Hopes pinned on peace across Taiwan Strait after drills
- Valencia fans leave Singapore with 'stern warning' after protest
- Falling sales cause sour grapes for iconic Portugal wine
- Belgian pathologist and literary star gives 'voice to the dead'
- Ethiopia's 'korale' recyclers turn waste into money
- Italy row, AI in focus at world's biggest book fair
- US, Philippines launch war games a day after China's Taiwan drills
- Scotland lock Gray signs for Japan's Toyota
- Allen and Bills foil Rodgers, outlast Jets 23-20
- North Korea blows up roads connecting it to the South
RYCEF | -0.57% | 6.99 | $ | |
JRI | 0.22% | 13.115 | $ | |
BCC | 0.61% | 143.86 | $ | |
SCS | 1.29% | 13.15 | $ | |
VOD | -0.08% | 9.672 | $ | |
RBGPF | 1.67% | 60.5 | $ | |
NGG | 0.73% | 67.38 | $ | |
CMSC | 0.6% | 24.84 | $ | |
RELX | 1.86% | 48.28 | $ | |
BCE | 2.76% | 33.485 | $ | |
CMSD | 0.75% | 25.17 | $ | |
RIO | -1.83% | 66.485 | $ | |
BTI | 0.04% | 35.465 | $ | |
GSK | 0.06% | 39.155 | $ | |
AZN | -0.74% | 77.53 | $ | |
BP | -3.58% | 30.885 | $ |
Man Utd sale saga leaves fans with more questions than answers
Nearly a year after Manchester United opened the doors to outside investment, British billionaire Jim Ratcliffe looks set to buy a 25 percent stake in the English Premier League club.
A proposed deal worth a reported £1.3 billion ($1.6 billion) is expected to be ratified at a United board meeting on Thursday.
But the fact that the Glazer family will remain in control of the club comes as a bitter disappointment for most fans, who were desperate to see the back of the unpopular Americans.
"It would be wildly optimistic to think the Glazers are acting in the interests of supporters or are making ownership decisions which don't centre on their own priorities," the Manchester United Supporters Trust (MUST) said in a statement this week.
United's fortunes on and off the field have suffered since the Glazers took charge at Old Trafford in a leveraged takeover in 2005 for £790 million.
The brilliance of former manager Alex Ferguson kept the Red Devils at the top of the English and European game during the early years of the Glazer reign.
However, United have not won the Premier League since Ferguson retired in 2013 and last lifted the Champions League back in 2008.
A miserable start to this season has left Erik ten Hag's men 10th in the Premier League and at risk of an embarrassing early Champions League exit after losing their opening two group games for the first time.
- Where does the money go? -
Ratcliffe, founder of petrochemicals giant INEOS, will reportedly seek to take control of the club's football operations in return for his sizeable investment.
But many question how a minority owner can have the sway in practice to control the core operation of a business.
"How does a minority shareholder stop cultural decline across a whole organisation if the people who have overseen this decline still have a majority shareholding?" Gary Neville, a former United captain turned pundit and businessman, asked on social media.
Moreover, it is unclear where the proceeds from Ratcliffe's investment will go.
Figures from March showed the club's debt has spiralled to £970 million.
But funds are also required for a long-awaited upgrade of the club's stadium.
Old Trafford remains the UK's largest club stadium, with a capacity of more than 74,000.
However, it has aged during the Glazers' reign while United's rivals have modernised their stadiums.
Manchester City's Etihad ground was selected for the UK and Ireland's successful bid to host Euro 2028, thanks to better facilities.
There is no big screen capable of showing fans replays of VAR incidents at Old Trafford and videos on social media showed supporters being soaked during a 1-0 defeat to Crystal Palace last month due to a leaking roof.
"Old Trafford requires significant investment on its surrounding land," said Neville.
"Does this deal impact this requirement positively or does it leave it as a concrete wasteland?"
When United first announced a process to "explore strategic alternatives for the club" in November 2022, "stadium and infrastructure redevelopment" was one of the options available with a fresh injection of capital.
Neville has also championed the need to upgrade the club's training ground.
However, already worn down by 11 months of a slow and tiresome process, United fans fear the Glazers could just line their own pockets by selling some of their shares while maintaining control.
"If the reports are true regarding INEOS obtaining a 25 percent stake in our club there are a number of questions around the transaction which need clarity before supporters can make any judgement on its merits," said MUST.
"The outcome must include new investment into the club. It cannot be solely about the interests of shareholders, whether existing or new."
Ch.Havering--AMWN