Who runs Manchester United now? | Manchester United takeover explained

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As Manchester United announce that Sir Jim Ratcliffe has acquired 25% of the club, Sky Sports News’ chief reporter Kaveh Solhekol explains what this will now entail for the Reds and the Glazers’ involvement in this agreement.

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13 months 13 months Yes we finally we finally got there um I mean we finally got there but where have we got to uh because it is a step into the unknown we’ve got a situation where somebody is buying 25% of a football club but he’s getting control of football operations

And the Glazer family are giving away control of football operations which in my mind is an admission of failure they’re basically saying since Alex Ferguson left we haven’t done the business on the pitch we’ve tried everything uh We’ve back the managers we’ve given them money it hasn’t worked

Out now these new people have uh come along they’re only going to own 25% of the club but we’re going to give them control of football in a way it suits the glazers as well because they can take a step back and they’re hoping that if things go wrong on the pitch they’re

Not the ones who are going to be blamed it’s going to be Ratcliffe and inos who are going to be blamed but already speaking to people about this deal over the past couple of days they’re saying to me how’s this going to work you’ve just got an extra voice in the room now

So when it comes to signing players uh for instance or hiring and firing managers you’ve got an extra layer uh an extra owner who’s going to be in the mix when it comes to making these decisions and we’re being told that uh Ratliff and inos are going to control football

Operations but at the end of the day they’ve only got 25% of the club is that really going be the case going is that really going to be the case going forward if things go wrong what voting shares have they got cuz haven’t they bought some of those as

Partal yeah it is quite complicated what they’re doing is they’re buying 25% of the Class B shares owned by the Glazer family now these are super voting shares right uh so although the Glazer family only owns 69% of Manchester United their shares come with voting rights which

Means that effectively they own 97% of the club they can make all the big decisions so uh Ratcliff andos are buying 25% of those shares they’ve also Al offered to buy 25% of the Class A shares those are the ones that are listed and traded on the New York Stock

Exchange and they’re offering what $33 a share uh which is around £26 same as they’re offering to the glazers as well and the board is recommending uh that the shareholders on the New York Stock Exchange accept that offer of 20 uh $33 a share because it’s

Far more than it’s been uh trading at so I think it’s going to happen it’s going to take a while because it’s going to have to go through the uh regulatory process at the New York sock exchange it has to go through the regulatory process at the Premier League which is going to

Take six or eight weeks but those United fans who want the glazers out the glazers are still in now you’ve got somebody who we’ve got to take it at face value he says he’s a Manchester United supporter he was born uh on the outskirts of Manchester no denying that

He’s a United fan he was uh somebody who’s going along with his father to games in in the ‘ 7s and 80s he was in Barcelona at the new camp in 1999 when Manchester United won the treble but it’s also true that he has tried to buy

Other clubs a year ago he tried to buy Chelsea uh he tried to buy Barcelona as well he already owns nce he owns lazan as well so just thinking off the top of my head UEFA are going to have to get involved in this as well because you

Can’t have a situation where nce and Manchester United are playing in the same European competition unless uh inos and r Cliff can prove that they’re being run by two uh separate boards two separate people have control over the clubs right so you mentioned this uh involvement in other sporting entities

Uh what’s his track record like okay his track record in business incredible uh somebody who goes to college uh you know uh sets up in business starts buying assets uh from all companies that they no longer want uh bills I think the biggest petrochemicals company one of

The biggest in the world he’s said to be worth anywhere between 10 and 20 billion he’s a big backer of brexit uh even though after brexit he goes and becomes a tax Exile in Monaco uh so his business record hats off you can’t criticize his business

Record apart from if you are looking at his business record from an environmental perspective uh and the harm his companies uh as said by critics to do to the environment and he has been accused of using sport to greenwash uh ino’s image his record in sports I would

Say is mixed uh he bought team Sky uh rebranded it as inos grenadiers uh their record has been mixed they’re not as successful as they used to be uh he’s invested in football lazan I think it was just I don’t think it was a serious play at getting

Involved in football it was more helping a Grassroots Club close to enos’s headquarters in Switzerland very mixed there they’ve been relegated a couple of times but I think that’s more to do with helping the youth and swiss Grassroots football nce he bought uh wanted to make

Them into a sort of you know Champions League club challenge PSG that’s been very mixed I think they finished fifth 9th fifth nth they do much better at the moment theyve got a new sporting director who’s going out there trying to find really good young players they’ve

Got a very promising new Young manager as well I think they’re second uh in the French league Formula 1 they bought a big stake in Mercedes F1 that hasn’t been going very well because Red Bull are leading the way he’s involved in sailing as well uh Britain’s uh you

Britain’s America’s Cup challenge so it’s been very very mixed but I think I was saying to you before he’s somebody who thinks he’s surrounded by very very clever people and he’s very very clever as well and he’s had extraordinary success in business and he looks at football and what people are doing

Football and he thinks my expertise in business I can translate into football as well and what I’m going to do is at Manchester United I’m going to improve everything by a couple of percent uh you know the coaching the recruitment uh the data analysis the nutrition the training the infrastructure everything’s going to

Improve and if you improve everything by a couple of percent overall all you improve everything completely and you can transform Manchester United and return them to former glories you can’t improve Old Trafford by a couple of percent that’s going to need more than that and that is going to need a lot

More than he’s claimed $300 million investment so we’re being told that he’s going to invest $200 million straight away uh once the deal is completed on infrastructure that’s 157 million P now you’re right when it comes to Old Trafford 157 million what are you going

To get a new roof if you’re lucky you’re not going to get a new stadium Tottenham Stadium probably the best football stadium in the world I think cost up to a billion pounds uh you know stadiums in the US the best stadiums in the world cost around2 billion pounds so this is

Not going to change anything I think shake jasim from Qatar was claiming that he was going to invest up 1.5 billion pounds in infrastructure rure so you know again you’re completely right to to raise that point this is not a game Cher you know the people who run Manchester

City the people who run uh Liverpool the people who run Chelsea the people who run Arsenal the people who run Tottenham are not going to be you know losing sleep over the fact that Jim Ratcliffe has arrived he’s a brilliant businessman but the jury is out on what he’s

Achieved in football and what he can achieve owning just 25% center of the club yeah now they’re making some big claims um we’re going to bring in the Global Knowledge expertise and talent from The Wider inia sport group to help drive further Improvement at the club sporting new sporting director what what

Are we looking at I mean what’s this restructuring yeah I think there’s going to be a new uh chief executive uh because obviously chief executive Richard Arnold has already left uh there’s lots of talk that that could be Jean clae Blan he’s somebody who already works at anyos he had uh senior

Executive position at Juventus at PSG as well he’s very highly regarded so he may well be the new chief executive he’s been Tau involved in discussions um new football recruitment director could be somebody like Paul Mitchell somebody who’s had uh success before at Southampton Spurs Monaco as

Well is currently out of work lives close to Old Trafford as well in the Northwest but there other names in the mix has been talk about Dan Ashworth who’s done such a brilliant job at the fa Brighton Newcastle United but I’m not sure he’d want to leave Newcastle United

Because you know Newcastle United are on the up at the moment um so they’ll be involved also Dave brownford again what’s his role going to be do we think well he has a role at inos which sees him like sort of overseeing all their sporting interests now he is somebody

Who knows Sir Alex Ferguson Jim rack actually knows Sir Alex Ferguson as well has met him I just wonder if Sir Alex Ferguson has been involved in this in the background at all using his influence to maybe convince the glazers that Jim rackliff and anyos are the

Right people uh to do business with but Dave braford is somebody who you know has had extraordinary success in cycling and he’s trying to translate that success into other sports and football as well he talks a good game obviously he’s had a a controversial career in the

Past in in certain respects but he is somebody who thinks marginal gains I’m going to go into Manchester United I can improve everything by a couple of percent and we can turn this around most people I know would be a little bit skeptical a little bit cynical about

Whether this is going to work because you know Elite level football at the highest level has moved on so much you know I’ve just been in s Arabia I’ve been watching Manchester City become world champions uh you know win five trophies in one year when you watch Arsenal play Liverpool yesterday you

Know the level of football that is being played Manchester United are playing catchup with all these clubs now you know they need to catch up with you know clubs like Spurs as well you know what an poao is doing there training ground all this you know you know you know yes

Tottenham you know Tottenham have got the stadium they’ve got the training ground they’ve got a brilliant coach now as well you know they’re a club on the up as well Manchester United I think you know it is a big big job Jim Ratcliffe is taking on let’s be positive it could

Be the start of something of course it could be it could be the start of something I think Manchester United fans will be saying Merry Christmas you know we’ve got Jim Ratcliffe the jury is out we’re not going to be you know celebrating and popping champagne corks because the

Glazers are still here but things can only get better that is what they will be hoping but what I will be saying is where is this money going to that Jim Ratcliffe is paying is it going to go towards paying off the debts that the Glazer family have saddled onto

Manchester United for the past 18 years I don’t think so what is going to happen to that debt because that is what has been uh you know holding United back for 18 years and how much is that debt now that debt is now a billion pound so the

Glazer family bought a club that was was debt free uh for around £800 million the vast majority of that 800 million was borrowed money and really they should have paid that money back themselves but no instead they put that debt onto Manchester United so 18 years Manchester

United has been paying that debt off they haven’t really been paying the debt off because the interest has been going up and up and up uh so they’ve been paying the interest dividends uh Bank charges it’s been going up and up and the debt total including all the money that’s owed on

Transfers and the money that’s owed on uh you know money they borrowed from the bank is about a billion pounds about this what will will will is this just going to happen in the background the Premier League won’t get involved well we would love to have Stock Exchange you know what we’d love

We’d love CLA if we had a news conference yeah if we had a press conference and Jim Ratcliffe was on stage and Joel Glazer was on stage and we could ask them all these questions it’s new it’s Christmas Eve exact exactly it’s all coming together it’s Christmas Eve it’s Sunday and tomorrow

Is Christmas Day and everybody’s off and even if it wasn’t Christmas Eve there wouldn’t be a news conference anyway I think sometime in the future maybe Jim Ratcliffe will do some interviews and uh you know if we’re lucky enough to be allowed to interview him or if our

Colleagues at Sky News uh lucky enough to be invited then I’m sure these questions will be asked but still I would say a lot more questions then [Applause] answers