Sir Jim Ratcliffe’s deal to purchase a minority stake in Manchester United cost the club close to £40 million, according to the Daily Mail. The Red Devils sold 27.7% of the club to the Ineos owner earlier this year.
Financial results have been released for the third quarter of the year and they show that United spent a further £30.6m on legal costs, after the £9.6m revealed in the previous quarter.
The club reportedly believe the “expenditure was necessary” to complete the deal, and that the long-term benefits will make it worthwhile, with United undergoing an overhaul off the pitch under Ratcliffe.
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Ratcliffe has pledged an investment of over £200m, with over £50m already pumped into the club’s facilities, including a renovation of the Carrington training ground. The club are forecasted to record a revenue of £660m for the financial year.
Manager Erik ten Hag backed Ratcliffe to successfully revitalise United earlier this week. “With the new ownership coming in, they can help us,” the United manager said. “They are very supportive. We’ve made a process, which we’ve constructed across the summer and we are in a very strong position to go and attack.
“We really have something to look forward to and that will be the best training ground in English football, but the most important is now. We live today and they did a great job to make this work and make this facility work to a professional condition, so we can work professionally. Four weeks ago here it was chaotic; now it’s set up so professionally.”
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Manchester United are moving in for Matthijs De Ligt, while Ronald Araujo has been touted as a potential new signing. The Red Devils are linked with fellow Uruguayan, Manuel Ugarte, while Erik ten Hag could see club captain Bruno Fernandes depart for Saudi Arabia.
Meanwhile, the club are looking ever more likely to part with midfielder, Donny van de Beek.
