The Glazer family are reportedly shelling out £250,000 per week in legal fees and consultancy to try and sell a controlling stake in Manchester United to Sir Jim Ratcliffe.
The complex sale process, which has already been in the making for over one year, is now costing the club £1m a month. According to club accounts, United spent £7m on legal and related costs in seven months. The information is from November 2022 to June this year.
United’s owners hired the US-based Raine Group a year ago to help broker the deal. Since then, sales advisors have made more money than many of the team’s top players.
Sir Jim Ratcliffe is on the brink of completing a £1.3billion deal to take an initial 25 per cent shareholding in the club. Sir Alex Ferguson, the legendary former manager of United, says he is ‘optimistic’ about Ratcliffe’s impending arrival.
Once his investment is confirmed, it is expected that Ratcliffe will take charge of football management. He will seek to stamp his mark on the club by making a number of alterations. It has also been said that will seek the guidance of United legend Ferguson.
United’s decline since the Scot’s departure in 2013 has been pretty drastic. The club has shown glimpses of their former self at times to turn things around, but for the most part they have failed to deliver, with little silverware being won. After a promising first season, Erik Ten Hag is now facing questions after a dismal start to the season.
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A number of players, including some big-name players on high salaries, could also be off-loaded in January, with Ratcliffe looking to bring in new players and potentially needing to raise funds through player sales to do so.
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