Stefan Borson: Man United could agree new investor deal after Sir Jim Ratcliffe blow

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Football finance expert Stefan Borson has suggested that Manchester United could seek a new investor if Sir Jim Ratcliffe’s plans are derailed, following fresh doubts over INEOS’ financial position.

The article explains that Ratcliffe, who has taken a significant minority stake in United and control of football operations, was expected to drive major investment in the club’s infrastructure and squad. However, financial headwinds facing INEOS have raised questions over how much capital Ratcliffe can now commit, and at what speed.

Borson argues that United’s ownership structure and commercial strength leave the door open for an additional investor to come in alongside Ratcliffe and the Glazer family. Rather than a full takeover, the club could pursue a targeted equity injection or strategic partnership to help fund key projects such as stadium redevelopment or training ground improvements, while also supporting squad rebuilding.

He notes that United’s global brand and revenue potential remain highly attractive, even amid on-pitch underperformance, meaning there would likely be interest from investors if the current plans stall. In that scenario, the Glazers could dilute their stake further or adjust existing agreements to accommodate a new backer, preserving overall control while unlocking fresh funds.

Borson also stresses that any slowdown in Ratcliffe’s investment does not necessarily spell crisis but may force a recalibration of timelines and ambitions. United may have to phase major capital projects, rely more heavily on internally generated funds, or adopt more cautious transfer strategies in the short to medium term.

Overall, the piece frames a potential “Ratcliffe blow” not as an endpoint for United’s rebuilding, but as a trigger that could see another investor introduced to share the financial burden and keep long-term development plans alive.