Sir Jim Ratcliffe increases stake in Man Utd with huge cash injection as decision made over January transfers
Sir Jim Ratcliffe has increased his stake in Manchester United, with a decision made over the club's January transfer plans following the deal.
Ratcliffe has injected a further £79 million in Man United, increased his stake and changed ownership of his involvement to his INEOS company.
The British billionaire paid around £1.2 billion for 27.7 per cent of the club earlier this year, agreeing to invest £237 million as part of the transaction.
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According to The Daily Mail, a filing listed on the US Securities and Exchange Commission has confirmed the final payment of £79 million and a raise in shareholding to 28.94 per cent.
However, per the report, the £79 million will NOT be used in the upcoming transfer window.
The payment, though, will strengthen the club's finances and make funds available for investment in infrastructure.
INEOS have carried out a wide range of cost-cutting since their arrival.
Around 250 jobs have been cut since Ratcliffe's arrival in an attempt to save somewhere between £35 million and £45 million.
The injection will go to areas of need rather than be swallowed by costs.
Ratcliffe has overseen a turbulent spell at Man United since striking a deal with the Glazer family.
The club were weighing up Erik ten Hag's future following last season's FA Cup triumph.
He was handed a new contract before being dismissed earlier this year following a torrid start to the new season.
Ruben Amorim was subsequently hired to replace Ten Hag, but the new Red Devils boss will have limited funds for the January transfer window despite Ratcliffe's injection.
Under Amorim, Man United have won four games across all competitions, including last weekend's big derby win over Manchester City.
Amorim's side return to action tonight when they face Tottenham in the Carabao Cup tonight before resuming their league campaign on Sunday against Bournemouth.
Topics: Football, Sir Jim Ratcliffe, Man Utd
Nasir Jabbar