Sir Jim Ratcliffe’s comments on the “dumb money” Manchester United have spent in the past have resurfaced as the takeover bidder seeks ‘immediate control’ of transfers if his offer to buy the club is accepted by the Glazer family.
The British billionaire’s INEOS firm want to take a controlling stake in United, which would allow the Glazer family to remain as minority stakeholders.
If an agreement is reached, The Telegraph claim Ratcliffe wants ‘immediate control’ of transfers at the club, rather than waiting for the sale process to be completed.
Sheikh Jassim, Ratcliffe’s rival for the takeover, is said to want even greater control over the club.
It’s thought the requests for immediate oversight are an indication of the process dragging on into the summer, and perhaps beyond, but the report adds that whoever takes over is unlikely to be granted transfer sway before the takeover is officially completed.
Ratcliffe’s comments back in 2019 suggest he would alter United’s transfer policy, insisting they had “lost the plot” in their dealings in the market, picking out Fred as a particular example of their foolishness.
The Brazil international joined the Red Devils from Shakhtar Donetsk in the summer of 2018 for £50m, and has been derided as an overpriced addition by rival fans ever since.
The INEOS chief decided to let rip over the Brazil international – insisting he’d been signed for “dumb money”.
“They haven’t got the manager selection right, haven’t bought well,” Ratcliffe told the Times.
“They have been the dumb money, which you see with players like Fred.
“United have spent an immense amount since Ferguson left and been poor, to put it mildly.
“Shockingly poor, to be honest. We have a different approach here [at Nice] to be moderately intelligent about it. Try to do it more grassroots, trying to locate young talent.
“Some clubs seem to have an ability to do that, Southampton, Lille.
“United have done it really poorly. They have lost the plot.”
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