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Disinformation report hotline: 010-85061466
Jim Ratcliffe and INEOS agree to buy 25 percent of Manchester United's shares for 1.3 billion pounds (about $1.65 billion), October 2023. /CFP
The purchase of a 25-percent stake in Manchester United by Jim Ratcliffe and INEOS for about 1.3 billion pounds (about $1.65 billion) is unlikely to be finalized before the end of the winter transfer window, according to ESPN.
Both Ratcliffe and the Glazer family, who own United, have been working on the legal details of the deal since it was agreed in October. They can make an announcement to the New York Stock Exchange before the end of 2023, but, considering that Christmas is coming, it may take more time for this process to be completed.
Moreover, it may take the Premier League four to six weeks to ratify the change to United's ownership model because of the Christmas and New Year period. The winter transfer window opens on January 1 and closes on February 1 for the English top flight.
Fans of Manchester United protest against the Glazer family, owners of the club, outside the ticket office ahead of the Premier League game against Brentford at Old Trafford in Manchester, England, October 7, 2023. /CFP
Ratcliffe will have control of United's recruits once the purchase is completed, and many of the club's fans have been counting on it after being let down by the Glazers at transfers, club operations and management for so many years. For example, United spent as much as 202.3 million euros (about $223.1 million) during the summer transfer window but found themselves in seventh place in the Premier League after 17 games, not to mention that they finished the UEFA Champions League group stages as the bottom team in their group.
As the Glazers are likely to operate United's transfers during the winter window, the club may not make any big moves, according to Colette Roche, their chief operating officer, over concerns of being punished by the Financial Fair Play rules.
United will need to raise money by selling players if they want to improve manager Erik ten Hag's squad. They have agreed to send Donny van de Beek to Frankfurt on loan, but that deal won't generate much cash. The club has been trying to get rid of Jadon Sancho, who had a fallout with ten Hag. It cost United 85 million euros (about $83.7 million) to acquire him from Borussia Dortmund in 2021. Transfermarkt.com values him at 25 million euros (about $27.6 million) at the moment.