Keith Wyness reveals truth after Ratcliffe's £79m cash injection at Man United
Everton’s former chief Keith Wyness has claimed a new £79million cash injection will pay for the mistakes made during the reign of Sir Jim Ratcliffe... The post Keith Wyness reveals truth after Ratcliffe's £79m cash injection at Man United appeared first on Football Insider.
Everton’s former chief Keith Wyness has claimed a new £79million cash injection will pay for the mistakes made during the reign of Sir Jim Ratcliffe at Man United.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – claimed the investment is “nothing more than housekeeping” as the United co-owner increases his stake in the club.
Ratcliffe purchased a 27.7 per cent stake in Man United earlier this year after agreeing a £1.25billion deal with the Glazer Family – and the British billionaire is now in charge of footballing matters at the club.
That deal included an agreement that would see the INEOS chief inject £238million into United, and the new £79million injection is the final instalment of those payments.
Ratcliffe’s new investment has seen his stake in the Red Devils rise to 28.94 per cent.
He has proved a controversial co-owner with fans and United staff alike and on the pitch, the club sit 14th in the Premier League table despite the appointment of highly-rated boss Ruben Amorim.
£79m cash influx to pay for Ratcliffe mistakes at Man United, says Wyness
Wyness told Football Insider‘s Insider Track podcast: “I’m afraid a lot of this money will go towards paying for the mistakes Ratcliffe and his team have made.
“It’s nothing more than housekeeping in terms of extending his ownership in Man United.
“He’s now up to 29%.
“It’s a small amount in the grand scheme of things, with the costs of the Ten Hag situation and the morale of the staff after the recent cuts.
“It’s going to be swallowed up pretty quickly.”
In other news, United could terminate Luke Shaw’s contract – insider.
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The post Keith Wyness reveals truth after Ratcliffe's £79m cash injection at Man United appeared first on Football Insider.
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