The Glazer family are set to pocket a huge amount of money once the 25 per cent stake purchased by Sir Jim Ratcliffe is ratified, according to reports.
Richard Arnold’s departure from the club looks to be the beginning of the clearout wanted by the 71-year-old Petrochemical billionaire Sir Jim Ratcliffe.
Once the deal is completed, the Glazer family will still have majority control of the club but Ineos will have control of the sporting side whilst the Glazers focus on the commercial areas of the business.
It has now emerged how much the Glazers are set to earn once the deal is completed, in what will be the latest move to antagonise the fanbase even more.
Glazers to pocket over half a billion
According to a report from The Telegraph, the Glazer family, who bought the club back in 2005 via a leveraged buyout, are set to pocket a huge amount of money, £650 million to be exact.
The deal that will see Ratcliffe come into the club will take six to eight weeks to be passed through, this is due to the Oldham-born billionaire needing to pass the Premier League’s Owners and Directors test.
This means that Ratcliffe having an effect on the club’s winter transfer dealings will be unlikely due to the length of the time the deal will take to be confirmed.
Glazers set to profit
The American family didn’t spend a single penny when they bought the club back in 2005 and they are set to profit hugely from the 25 per cent sale of the club.
The other £650 million from Ratcliffe’s £1.3 billion investment is set to go to minority shareholders in the club and thankfully not in the family’s back pocket.
This latest news will surely grate on the fanbase and don’t be surprised if there is another protest in the near future.
The fanbase, however, should get excited as for the first time in 18 years, the Glazer family are finally some ceding control of the club. It’s a positive step.
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