Manchester United takeover latest as Sir Jim Ratcliffe warned about £555m FFP transfer problem

Manchester United have finally confirmed Sir Jim Ratcliffe’s £1.3billion minority investment has been ratified by the Football Association, a week after the Premier League gave its own green light.

He initially takes 25 per cent ownership of the club with this rising to 28.9 per cent by the end of the calendar year. It officially concludes United’s takeover process, which first began in November 2022.

Ratcliffe has already been getting to work ahead of time, appointing the incoming Omar Berrada as CEO and reportedly making a formal approach for Newcastle chief Dan Ashworth, who has been placed on gardening leave by his club.

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His first job is to ensure the boardroom structure is in place ahead of an important summer. However, his debut transfer window in Manchester may not be straightforward.

Ratcliffe will wish to enjoy a statement summer, but the club’s previous spending will impact how much can be dished out this year. United have splashed around £555m over the past three summers and were consequently unable to bring anyone in during January because of Premier League finance rules constraints.

This squeeze is set to impact the upcoming transfer window too and the absence of Champions League football could slash the budget by as much as £40m. One source close to Ratcliffe told The Telegraph that while off-field changes are rapidly being made, on-field transformations may take longer.

They said: “You can’t do it overnight because of FFP and the fact the club has put themselves in a very tough financial position. You can’t buy your way out of it.