Sir Jim Ratcliffe's Manchester United dream could turn into a nightmare before it's started

Sir Jim Ratcliffe is probably starting to feel that there might have been better times to become a minority owner of his boyhood football club. The 71-year-old finally got his seat in the boardroom in February but a project he described as his "biggest challenge" in sport has got considerably harder in the past couple of months.

When Ratcliffe initiated talks to invest in Manchester United the club looked to be on the right track under Erik ten Hag. The strategic review commissioned by the Glazers started at a time when Ten Hag was putting silverware back in the trophy cabinet and bringing Champions League football back to Old Trafford.

Fast forward to completion and the picture is very different. Ineos face a major decision over Ten Hag's future and are now so desperate to raise funds for a summer rebuild that they are considering selling almost every member of the first-team squad.

ALSO READ: United want three key signings with only four players not for sale

ALSO READ: Why United voted against plans to introduce a spending cap

Not only have performances this season highlighted weaknesses within the squad and on the coaching staff, but off-the-pitch Premier League rules are making life considerably more difficult for Ratcliffe. His plan would never have been to come in and splash his billions on new players in the style of Roman Abramovich. Now he couldn't even get close to that if he wanted to.

Ineos' first transfer window in charge of football operations at United will be compromised by the club's battles against the Premier League's Profit and Sustainability Rules (PSR), a position that has been weakened due to the absence of Champions League revenue.

That has forced the club to head into the window with an