Although Sir Jim Ratcliffe has been active at Manchester United since his investment into the club was announced on Christmas Eve, only now ratification has been confirmed can he officially start work at Old Trafford.
Ratcliffe has not been sitting idly in the intervening six weeks — he’s met staff, fans and civic leaders, watched a match and attended the Munich memorial — but this is confirmation he and his INEOS colleagues can push through some of the changes that have previously been simply under discussion. As Ratcliffe said in his statement, work to put United back at the top of world football “will accelerate from today.”
The appointment of Omar Berrada as chief executive was a sign that Ratcliffe, after months of negotiations to gain his stake, did not intend to wait much longer to get to grips with United. But that was a vacancy that needed filling, and still required engagement and acquiescence from Joel and Avram Glazer.
Ratcliffe is joined by a team of colleagues, most notably Sir Dave Brailsford, who can now get to work properly at United. This is how their roles are expected to map out and the first tasks on their agendas.
Sir Jim Ratcliffe
Although Ratcliffe has only secured a minority investment in United, he is now the club’s largest single shareholder. The six Glazers siblings collectively have more voting power than him, but no individual has a greater stake, which will rise to 28.9 per cent once his full $300million capital injection is made by December 31. This point has been made to people since the deal was struck, essentially to emphasise Ratcliffe’s strength of influence at United.
He negotiated an amendment to the company’s articles of association, which previously stipulated Class B shares automatically converted to Class A shares when they were sold. Class B shares, held only by the Glazers, are worth 10 times the voting rights of Class A shares. The resolution was passed overwhelmingly at the extraordinary general meeting held on February 5, so Ratcliffe’s Class B shares maintain their power.
Ratcliffe chats with Alex Ferguson at Old Trafford (Matthew Peters/Manchester United via Getty Images)
But Ratcliffe does not seem overly concerned by the legal framework. He has even gone as far as saying that the written agreement of his deal is metaphorically “in the bottom drawer” of his desk and would not be coming out because he trusts the Glazers, who are happy for him to lead the way.
Interim chief executive Patrick Stewart told staff that Ratcliffe will not only run the football operations — as detailed in United’s filing to the U.S. Securities and Exchange Commission — but also has latitude to take a big say on the wider aspects of the club. Club sources, who requested anonymity as they did not have permission to speak, say there is no “Chinese wall” between INEOS and the Glazers. It is in that context that Ratcliffe’s role in the appointment of Berrada from Manchester City should be viewed.
Brailsford identified Berrada as a leading football executive, sourced information on his potential availability, and initiated the interview process, subsequently bringing the proposal to Ratcliffe, who got a good impression and then hosted Joel and Avram Glazer in Monaco to ascertain their thoughts.
Brailsford will have greater licence to complete the next part of the hiring phase, given it pertains to football, but Ratcliffe is expected to be involved at every step.
Ratcliffe, 71, has already demonstrated what type of co-owner he plans to be. He struck a chord when he led an all-hands staff meeting with a message for change, impressed fans during in-person meetings and began conversations about stadium redevelopment with civic leaders.
He has said publicly he cannot dedicate all his time to United given his other responsibilities as INEOS chairman, while tax laws mean he is unlikely to spend more than 90 days in the UK from his Monaco residency.
Sir Dave Brailsford
Behind the rise of British Cycling and at the helm during Team Sky’s periods of success and controversy, Brailsford has been at the forefront of activity at United since the INEOS deal was announced. He regularly works out of Carrington, charged with the responsibility of figuring out what — or who — needs refinement.
He is director of sport for INEOS and now a club board member at United. Brailsford has acknowledged he is “no football expert” but Ratcliffe believes he has demonstrated an eye for talent and an ability to motivate groups. Brailsford’s job will be to assemble an executive team to maximise United’s potential.
Berrada’s arrival has already been agreed, and Brailsford’s next major task is to hire a sporting director — the plan from the outset being to get the top position sorted, then work down.
Dan Ashworth, well known to Brailsford from their time at the FA in 2016, is the man chosen, and now the main question is what compensation fee Newcastle United will accept so that he can start work at Old Trafford. Brailsford will be involved in the negotiations over the fee.
Club sources say United are confident a financial settlement can be reached with Newcastle given the profit and sustainability picture at St James’ Park. The alternative, they argue, is that Newcastle would receive no compensation and have to pay Ashworth during his gardening leave.
This approach by INEOS means Ashworth knows he will be working under Berrada, rather than waiting to find out the identity of the CEO after he has been hired. At Newcastle, Ashworth entered a structure beneath him that was already functioning well and found it difficult to fully immerse himself.
Brailsford conducted his own search, but Berrada had input, even though there are some restrictions while he is on gardening leave from City.
Brailsford (right) with Ratcliffe and Ten Hag (Manchester United/Manchester United via Getty Images)
Brailsford ideally wants Ashworth in before the summer window. He has spoken internally about the need to shift the inertia that has plagued United for years and believes that making bold appointments quickly is one way to generate enthusiasm and momentum across the club.
The pursuit of Jason Wilcox falls into this category. Wilcox, Southampton’s sporting director, worked with Berrada at City when academy director.
Brailsford is also looking to appoint another executive, primarily to cover recruitment, but the exact way of working is yet to be established.
Julian Ward has featured prominently in discussions, with talks taking place. Ward took over from Michael Edwards as Liverpool’s sporting director in June 2022, having assisted for 18 months prior, but stepped down amid a shifting hierarchy above. Ward is said to be careful about his next choice, with importance placed on the scope of the role.
Julian Ward, right, with Jurgen Klopp and Mike Gordon, has held talks (Andrew Powell/Liverpool FC via Getty Images)
Appointments in those positions raise questions about the futures of football director John Murtough, technical director Darren Fletcher and head of scouting operations Steve Brown. The time required to wait for Ashworth to start officially may dictate Murtough’s status, while Fletcher’s assistance to Erik ten Hag as a coach is also a factor in how his role looks.
Sources at the club believe there are several adept staff members who have the capacity to do better work when empowered by strong leadership. Brailsford endorsed a sentiment for unlocking potential when speaking to football staff in his first week at Carrington, and he struck a similar theme when addressing the players on January 29.
Jean-Claude Blanc
The chief executive of INEOS Sport has a track record in football, having worked at Juventus and Paris Saint-Germain. As Juventus CEO, Blanc revamped the club’s commercial operation and oversaw the move to a new stadium, experiences that will be valuable at United. Blanc, 60, was present for the meetings where Old Trafford redevelopment was discussed with Manchester mayor Andy Burnham, Trafford Council’s chief executive Sara Todd and corporate director for place, Richard Roe.
Blanc also greeted fans in gatherings with the Manchester United Supporters Trust and the fan advisory board, making a positive impression by shaking everyone’s hand. He will take up a position on the football board and although he does not have an official job at the club, he is expected to perform an important advisory role.
Omar Berrada
That the incoming chief executive has swapped blue for red in Manchester is a sign of INEOS’s intentions to disrupt the status quo. Berrada, 45, will be assuming more responsibility than he had at City, but his arrival nevertheless indicates how Brailsford plans to target the biggest success stories in the game.
Brailsford is conscious that City’s dominance cannot be copied but sources say he hopes that by bringing together a team of people who have thrived in the modern game, and getting them to challenge each other, they can find a way to be successful again.
Berrada, right, is on gardening leave from Manchester City (Mike Egerton/PA Images via Getty Images)
Berrada’s appointment also demonstrates the INEOS view that a football club chief executive should have experience in the game and be able to offer sporting opinions. His predecessors, Richard Arnold and Ed Woodward, came from the world of finance and had differing approaches. Woodward tried — unsuccessfully, many would argue — to immerse himself in football decisions, while Arnold deliberately stayed away from that aspect of the club. Ratcliffe feels Berrada, who had a background in commercial departments at City and Barcelona, can link both sides with authority.
Berrada, who worked on the deal to bring Erling Haaland to City, will be expected to influence the negotiations on player signings and take a holistic view of club revenue streams.
Tom Crotty
An INEOS director since 2001, Crotty accompanied Ratcliffe at the Tottenham Hotspur game and is a public face for the company. He has given interviews on television before and may take up a similar communications role for INEOS at United.
Josh Thompson
A project manager at INEOS Sport, Thompson is regarded as an assistant to Brailsford. He can handle logistics — he is spending time at Carrington on this basis — and attend meetings on Brailsford’s behalf due to existing relationships with agents. He speaks French having been a part-time football coach in Switzerland 10 years ago, and has worked his way up at INEOS after an internship for FC Lausanne-Sport in 2018. Thompson watched the FA Cup tie against Wigan Athletic from the directors’ box at the DW Stadium.
John Reece
Co-owner of INEOS, Reece, a chartered accountant, joined Ratcliffe’s company in 2000 as financial director. The 66-year-old, estimated to have a personal fortune of £9.1billion ($11.5bn) by the 2023 Sunday Times Rich List, now takes a seat on United’s plc board, which means he can represent INEOS’s views on all the major decisions at a macro level should a vote be required.
Rob Nevin
Chairman of INEOS Sport, Nevin was part of the team given a tour of Carrington and Old Trafford in March, at the start of the process, and he accompanied Ratcliffe in Manchester last week. He takes up a place on United’s plc board. Like Reece, his primary purpose at United will be to reflect INEOS opinions in the boardroom on matters such as debt refinancing and stadium improvements.
(Top photos: Getty Images)
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