Man Utd 'source' drops concerning Sir Jim Ratcliffe news as £555m problem emerges

Manchester United may not be able to spend heavily under the minority ownership of Sir Jim Ratcliffe due to FFP concerns, according to a new report.

Ratcliffe has now officially acquired a minority 27.7 per cent stake in the club via his petrochemicals company INEOS.

The British billionaire and his team will take over the footballing operations at Old Trafford from the Glazer family, who remain as majority owners of the club.

In an official statement published on United's official website, Ratcliffe said: "To become co-owner of Manchester United is a great honour and comes with great responsibility.

"This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans.

"Work to achieve those objectives will accelerate from today."

Ratcliffe has already begun making several key moves on the behind-the-scenes front, with Omar Berrada set to join directly from Manchester City to become the club's chief executive officer.

He also wants Dan Ashworth as the club's new head of football, although his current club Newcastle are demanding a reported £20 million in compensation and have placed him on gardening leave.

There is the expectation among some supporters, therefore, that United will have a major focus on reshaping the playing squad this summer.

But according to The Telegraph, that may not necessarily be the case.

It has been reported that United's £555 million spending on incoming transfers in the last few years has meant they are sailing close to the wind in terms of FFP, compounded by a lack of big-money sales.

As a result, therefore, Ratcliffe's early progress in terms of overhauling the squad may have to be slow, with a source telling the outlet: "You can't do it overnight because of FFP ... you can't buy your way out of it.

"You can't do a City because there's no headroom. You can dress things up, invest in infrastructure - you can spend as much as you want on the stadium.

"But when it comes to the squad that's going to take time and funding."