It has been exactly two years to the day since Manchester United announced the completion of Sir Jim Ratcliffe’s minority takeover deal.
While Manchester United supporters around the globe were celebrating Christmas Eve in 2023, it was confirmed that Sir Jim Ratcliffe completed a £1.2bn takeover of the club.
The timing of the deal was criticised, with Gary Neville labelling the takeover a “disgrace”. The first year of Ratcliffe’s ownership was full of controversy, and United fans quickly discovered it wasn’t the Christmas present they had been dreaming of.
Are you happy with Ineos and Sir Jim Ratcliffe?
Now two years on from the takeover, Ratcliffe’s ownership has grown to around 29% of the club, and supporters have a better idea of Ineos’ long-term vision.
It has been a hectic year on and off the pitch for the Red Devils, and there have been some major talking points involving the ownership.
Stadium and training ground
It was back in March that United revealed images of a 100,000-seater stadium design to replace Old Trafford.
Ratcliffe wants the stadium completed by 2030, but the last nine months have already thrown up plenty of hurdles, with negotiations ongoing to purchase the land required to begin construction.
Man Utd’s new stadium plans, what we know right now
- Set to be complete by 2030/31 season
- Expected cost around £2 billion
- Old Trafford set to be demolished
- Expected to create 92,000 new jobs, 17,000 new homes and drive 1.8 million visitors annually
- Capacity of 100,000 with steepest stands allowable in UK (35 degree angle)
- Munich clock and other iconic club landmarks set to be included in new design
United’s infrastructure was neglected by the Glazers so Ineos deserve credit for making major improvements in just two years.
The £50 million Carrington refurbishment has provided Ruben Amorim and his players with state-of-the-art equipment after the previous training ground was criticised by Cristiano Ronaldo for being stale.
Project 90
Another positive from the Ineos ownership is that they have finally introduced a long-term plan at United after years of panic and rushed decisions under the Glazers.
Ineos have launched ‘Project 90’ to help stabilise the club’s financial health.
United have had to balance their PSR after missing out on European football and investing heavily in the squad.
The ‘Project 90’ is designed to improve United’s balance sheet by £90m each year from sources such as cost cuts, commercial deals, player trading or prize money.
All-in on Ruben Amorim
Ratcliffe and Ineos ended their first full year in charge by replacing Erik ten Hag with Ruben Amorim as head coach.
Amorim’s first season ended with United down in 15th place – the club’s worst-ever Premier League finish.
Sir Jim Ratcliffe gave Ruben Amorim his support
After a mediocre start to the 2025/26 campaign, questions about a change of manager started to emerge, but Ratcliffe publicly backed Amorim and declared that he deserves three years to prove himself.
Since making those comments, the pressure around Amorim has been relieved and performances have improved.
Stance on academy
There has been criticism over Amorim’s lack of faith in United’s academy talents this season, but Ineos’ stance on the academy is also sparking controversy.
Ratcliffe has made it clear that United need to improve their academy, but the British billionaire suggested that selling academy players is one way for United to improve their financial health.
On the flip side, Ineos have shifted United’s recruitment strategy to prioritise signing young and upcoming academy talents.
Chido Obi, Sekou Kone and Enzo Kana-Biyik have all arrived with big reputations and a bright future.
Future takeover intention
Ratcliffe has had sporting control at Old Trafford since his takeover was completed two years ago, but he does not have complete voting power.
With only 29% of the club’s shares, Ratcliffe is still only a minority owner, with the Glazer family holding ultimate power behind the scenes.
A clause in the takeover means the Glazers could force Ratcliffe to sell, but the British billionaire is first in line to be offered a full takeover deal.
READ MORE: Sir Jim Ratcliffe handed £125m Ineos bailout, here’s what it means for Man United
Ratcliffe is open to selling Nice and scrapping the multi-club model, and that could result in purchasing more United shares and growing his ownership.
Ineos certainly seem to be planning for the long-term, so fans can expect Ratcliffe’s ownership to grow in 2026.
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