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In December, Manchester United finally announced the conclusion of their year-long strategic review with Sir Jim Ratcliffe being named the new minority stakeholder.
The British billionaire acquired 25 percent of the club while also setting aside £250 million for infrastructure investment, in exchange for which he is expected to acquire a larger share of the club.
It is common knowledge that the club’s facilities have been left to rot under the Glazers with Old Trafford and Carrington both falling behind all of their rivals and in need of urgent funds.
The Americans have never bothered to use their own money to help the club and they are not expected to start any time soon.
New training ground update
INEOS, who are soon to be named as sporting heads, could kickstart their reign by signing off on a new training venue if recent reports were to be believed.
The Peoples Person had reported that the club have been looking at a new base for their training operations, something that would ideally be big enough to accommodate the men’s team as well as the women’s side and the academy.
They were reportedly in talks with High Legh Park Golf Club after having identified it as the ideal venue for their operations.
High Legh Park is currently home to an 18-hole championship course, a nine-hole course, a 24-bay floodlit driving range, a retail store, a clubhouse bar, and a restaurant. The golf course was reportedly put up for sale last year.
But now The Manchester Evening News have poured cold water over this development, claiming that the golf club are not in negotiations with United.
“The owners of a Cheshire golf club say they are not in talks with Manchester United about the sale of the facility.”
A spokesperson for owners American Golf told The Chester Standard, “No conversations between High Legh Park Golf Club and Manchester United are currently taking place.”
More debt could be added?
Interestingly, Football Insider have claimed that the entire cost of infrastructure development might cross INEOS’ pledged amount and that might become a problem for the club.
“If Jim Ratcliffe is not in a position to fund all of this himself, what we’re likely to see is an increase in Manchester United’s already significant level of borrowings.
“The Glazers have shown from the day that they acquired the club in 2005 that the one thing they’re not prepared to do is to put money into Manchester United,” financial expert Kieran Maguire revealed.
Old Trafford also needs more than a lick of paint and fans will be hoping INEOS do not end up adding to the club’s burgeoning debt.
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