Sir Jim Ratcliffe’s minority investment in Manchester United cost the club more than £30m, their latest accounts have revealed.
Ineos boss Ratcliffe completed his purchase of 27.7 per cent of United earlier this year, paying £1.25bn in a deal that also saw him take charge of footballing matters.
The transaction landed the club with a bill for £30.3bn once it was approved by the Football Association and Premier League.
It is understood that Ratcliffe has since put some of his vast fortune, estimated at £12.7bn, into the club to begin work on improving their Carrington training ground.
However, the club has also moved Manchester United’s women’s team into portacabins while the work is undertaken and announced around 250 redundancies.
Ratcliffe has been quick to make changes in key roles, hiring a new CEO, Omar Berrada, from rivals Manchester City and poaching sporting director Dan Ashworth from Newcastle United.
United have also agreed a new contract with manager Erik ten Hag despite holding talks with potential replacements including Thomas Tuchel and Mauricio Pochettino.
The 20-time English champions remain majority owned by the Glazer family, who are based in their native US and also own NFL franchise the Tampa Bay Buccaneers.
In guidance accompanying the Q3 results, United said they expected to report record revenue of £660m for the financial year ending June 2024.