Almost a year after Manchester United opened its doors to outside investment, British billionaire Jim Ratcliffe is poised to acquire a 25% stake in the English Premier League club.
The anticipated deal, reportedly valued at a staggering 1.3 billion pounds ($1.6 billion), is expected to secure formal approval during a United board meeting scheduled for Thursday.
However, the Glazer family's continued ownership of the club has left a bitter taste for the majority of fans, who had fervently hoped for a departure of the unpopular American owners.
The sentiment expressed by the Manchester United Supporters Trust (MUST) highlights the prevailing disillusionment among fans: "It would be wildly optimistic to think the Glazers are acting in the interests of supporters or are making ownership decisions which don't center on their own priorities."
This skepticism has deep roots, as United's fortunes, both on and off the field, have witnessed a steady decline since the Glazers assumed control of Old Trafford in a leveraged takeover back in 2005 for a staggering 790 million pounds.
In the early years of the Glazer era, the managerial brilliance of Sir Alex Ferguson kept the Red Devils perched atop the English and European football hierarchy.
Yet, the club has failed to clinch the Premier League title since Ferguson's retirement in 2013 and has only one Champions League triumph to its name, dating back to 2008.
The current season paints a bleak picture as well, with Erik ten Hag's side languishing in 10th place in the Premier League.
The embarrassment deepens as they find themselves perilously close to an early exit from the Champions League, having suffered defeats in their opening two group-stage matches.
The crux of the issue, beyond the ownership shuffle, revolves around how Ratcliffe, the founder of petrochemicals giant INEOS, will wield influence over the club's football operations in exchange for his substantial investment.
Many skeptics question the efficacy of a minority shareholder in driving substantial change across the organization when those overseeing the decline still retain a majority shareholding.
Furthermore, the allocation of Ratcliffe's investment remains a point of contention.
As of March, the club's debt had soared to a staggering 970 million pounds.
Yet, there is also a pressing need for a long-overdue revamp of Old Trafford, the U.K.'s largest club stadium, with a seating capacity exceeding 74,000.
As competitors like Manchester City modernize their stadiums, Old Trafford has aged during the Glazers' reign, leading to glaring issues such as the lack of a big screen for VAR replays and a leaking roof that drenched fans during a recent match against Crystal Palace.
Gary Neville, former United captain turned pundit and businessperson, aptly highlighted the stadium's requirements, stating, "Old Trafford requires significant investment on its surrounding land."
The deal in question should ideally address this need positively, preventing it from becoming a concrete wasteland.
When United initially signaled their intention to "explore strategic alternatives for the club" in November 2022, "stadium and infrastructure redevelopment" was one of the potential pathways with an infusion of fresh capital.
Neville has also championed the necessity of upgrading the club's training facilities.
However, exhausted by an 11-month process marked by sluggish progress, United's faithful supporters fear that the Glazers might merely prioritize lining their own pockets by offloading some of their shares while retaining control.
In the words of MUST, "The outcome must include new investment into the club. It cannot be solely about the interests of shareholders, whether existing or new."