The Glazers sold a minority share of Manchester United to Sir Jim Ratcliffe in 2024(Image: Getty Images)
Former Everton, Aston Villa, and Aberdeen chief executive Keith Wyness says he has no doubts the Glazers are in talks to bring in new investment at Old Trafford. The 68-year-old claims Sir Jim Ratcliffe may have little say in any potential takeover talks at United and believes further investment will help them fund their new stadium project.
United announced plans to build a new 100,000-seater stadium last year, which would see the club move away from their historic Old Trafford home. The proposed project would reportedly create 92,000 new jobs, more than 17,000 new homes and drive an additional 1.8 million visitors annually.
Speaking at the time of the announcement, Ratcliffe, co-owner of Manchester United, said: “Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, at the centre of a regenerated Old Trafford. Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport.
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“By building next to the existing site, we will be able to preserve the essence of Old Trafford, while creating a truly state-of-the-art stadium that transforms the fan experience, only footsteps from our historic home. Just as important is the opportunity for a new stadium to be the catalyst for social and economic renewal of the Old Trafford area, creating jobs and investment, not just during the construction phase, but on a lasting basis when the stadium district is complete.
“The Government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance.”
However, Wyness, who was most recently CEO at Aston Villa from 2016-18, believes the club will need additional income to fund such a project, with the Glazers either sourcing new minority investment or selling the club entirely.
Speaking on Football Insider’s Inside Track podcast, Wyness said: “I’ve got no doubt there are discussions, and it’s the Glazers that hold the key at the moment, and I’ve got no doubt discussions have happened about the Glazers either bringing in another partner or selling it in some position, and I think Ratcliffe would have little choice on that.
“See the big ramifications of the problems that INEOS have brought on themselves now is things like the debt pile that’s still there in his own company, which means that they will not be able to finance through INEOS or give the proper guarantees, possibly for things like the stadium.
“Now that’s a big long-term project that all the fans were told to buy into. If you like, it was the showpiece of the whole INEOS tenure, that they wanted to show that we’re going to be moving forward and the great new Old Trafford project was going to be born and with the circus tent.
“And it was impressive, but I’m just wondering now how that could be financed in the same way without bringing in outside finance in a more expensive way and that’s going to put more pressure on them.”
Ratcliffe’s company INEOS are battling an estimated £18billion worth of debt, according to reports from the Telegraph last year, with some speculating he may have to step back from his ownership at United.
The club also find themselves in a significant amount of debt under the Glazers’ ownership and were involved in takeover talks to sell the club to Qatari billionaire Sheikh Jassim in 2023, but opted to sell a minority share to Ratcliffe instead.
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