According to reports, Sir Jim Ratcliffe and INEOS have performed a ‘U-turn’ after an ‘intervention’ from Manchester United icon Sir Alex Ferguson.
INEOS chief Ratcliffe completed his purchase of a 27.7% stake in the Premier League giants at the start of this year.
The British billionaire only purchased a minority stake in Man Utd but has taken control of footballing matters at Old Trafford.
Ratcliffe was tasked with rebuilding the relationship between the club and fans after mass protests led to the Glazer family giving up control.
This is not going entirely to plan, though. Ratcliffe has been ruthless as he’s sanctioned mass redundancies at Old Trafford and there have been fan protests over raised ticket prices.
United’s new co-owner also received backlash for making Ferguson another casualty of INEOS’ ‘cost-cutting programme’. This came as they ended their ‘multi-million-pound annual commitment’ to their former manager, who was made their global ambassador after retiring in 2013.
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Now, a report from Football Insider claims Ratcliffe and INEOS have ‘backtracked on the Busby families after Ferguson intervened’.
It’s claimed ‘INEOS were forced to backtrack on a decision’ after ‘threatening to revoke privileges given to the families of the Busby Babes at United’. Regarding this ‘latest controversial call’, the report explains.
‘The families of players involved in Sir Matt Busby’s legendary side are regulars in the directors’ box at Old Trafford, but the club’s part-owners had threatened to put an end to those positions.
‘The latest controversy comes following the decision to end the club’s multi-million pound annual commitment to Sir Alex, who had been a club ambassador since stepping down as the first-team manager in 2013.
‘However, sources say it was an intervention from the revered former-United boss which saw Ratcliffe and INEOS make a U-turn on their call.’
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Responding to recent fan protests, United moved to defend their actions in a statement, insisting that they have been “focused on cost saving” to ensure they are on a “stronger financial footing”.
“As a club, we have been focused on cost saving to put us on a stronger financial footing,” United said in a statement.
“This means having to make very hard decisions, including a significant reduction in our staff numbers.
“It also means looking for opportunities to increase our revenues so we can continue to invest in football and infrastructure.”
It is also noted in the report that ‘Man Utd were contacted by Football Insider on Tuesday but did not respond to the latest controversial claim’.
