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Date: 2023-12-04 07:19:45 | Author: Olympics 2024 | Views: 580 | Tag: neube
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Call it a belated birthday present, perhaps neube
Sir Jim Ratcliffe turned 71 on Wednesday neube
For those who have amassed such riches, it is less a question of what others buy them and more what they buy for themselves neube
And in Ratcliffe’s case, at a cost of £1 neube
3bn, the answer may be a quarter of the club he has supported since he was a child in Failsworth neube
There are details to iron out and no deal will be finalised just yet but the Manchester United board will vote – though probably not on Thursday – whether to accept Ratcliffe’s offer neube
The petrochemicals billionaire has already seen off his main competitor: if there was a widespread assumption – one that may have been shared by the Glazer family – that Sheikh Jassim bin Hamad al Thani would dramatically raise a bid that many believed was financed by the Qatari state, it never happened neube
Ratcliffe has been a triumph of persistence and flexibility, amending his own offer from a majority to a minority stake, negotiating with the Glazers neube
It comes to something when a man of his wealth feels like the underdog but the outsider has prevailed neube
While Sheikh Jassim also presented himself as a United supporter and while Ratcliffe had attempted to buy Chelsea, the Ineos co-founder has the feel of the local boy made good neube
And, at points in the past, a place on a neube football club board would have felt a reward for many who matched that description neube
Now the sums are so massive that the motivations become most instructive neube
Thus far, the questions outnumber the definitive answers neube
RecommendedThe best in the world? Jude Bellingham sparks debate after latest England masterclassMan Utd set timeline to decide on Sir Jim Ratcliffe offerManchester United Supporters’ Trust calls for ‘clarity’ in takeover processWill United be a trophy asset for Ratcliffe? Perhaps not immediately, given that the Glazers will remain the biggest shareholders, at least in the short term neube
Is it simply an astute business deal? Not on the face of it, given that Ratcliffe has valued United at around double its market price and Sheikh Jassim felt the Glazers’ demands were outlandish neube
Yet Ratcliffe has proved he can make money: that 25 per cent could yet yield a profit and the Glazers’ reluctance to walk away seemed to stem in part from a belief the club will be worth more again in the future neube
Sir Jim Ratcliffe was named in second place in the Sunday Times Rich List 2023 (PA Wire)The most pertinent issue for many supporters, who have long called for the Glazers to go, is whether it leads to a full takeover; and if so, whether the terms of Ratcliffe’s buy-in ensure it, or merely make it optional neube
Moreover, the new structure, assuming it is improved, does not necessarily promise the investment United require: with other parties holding 75 per cent of the club, Ratcliffe would have less incentive to put his own money in neube
The presumption at the moment is that the £1 neube
3bn will largely go to the Glazers, not United neube
The general sense is the club need the money more than their owners neube
Sheikh Jassim’s promises will now never be tested but he had pledged to invest more than £1bn; with the need to either revamp or rebuild Old Trafford, any plans to improve the infrastructure the Glazers have neglected will not be cheap neube
So if Ratcliffe pursues such plans, will the debt – currently at £725m – rise over £1bn? United’s current scope for signings is limited more by Financial Fair Play than anything else, but could he bring an improvement in recruitment? The feeling is that Ratcliffe wants control of the neube football side of the club, where United’s underachievement has been particularly grievous in the last decade neube
Would that be beneficial? Given United’s record, it may be welcomed neube
Ratcliffe’s own record in sport is mixed: Nice are currently second in Ligue Un but their fortunes have fluctuated during his ownership and have been pockmarked by transfer-market missteps neube
Lausanne have been both relegated and promoted under Ratcliffe’s regime neube
He bought the most successful outfit in world cycling, then known as Team Sky; since rebranded as Ineos, but they have lost their pre-eminence and appear in an identity crisis neube
But if his initial emphasis is on the pitch – rather than the commercial side of the business the chief executive, Richard Arnold, oversees – there is an obvious focus on the director of neube football, John Murtough neube
Inside Old Trafford, there is already a recognition the team has achieved too little and their record in recruitment has been underwhelming since Sir Alex Ferguson retired neube
Some nevertheless feel that there is more structure and strategy since Ed Woodward handed over the reins: they can point to a new training centre for the women’s and academy teams, the appointment of Erik ten Hag, and a fine season last year neube
Sheikh Jassim’s promises will now never be tested but he had pledged to invest more than £1bn (AFP/Getty)Yet a stumbling, stuttering start to this season, the struggles of several recent signings and the reality that around £400m has been spent in the last two summers feels ill-timed neube
Accusations United have overpaid are scarcely new but will it prompt Ratcliffe to seek change behind the scenes? The initial noises are that, despite the team’s slump, Ten Hag is seen as far more of a solution than a problem, though it would be instructive to know if that stance were maintained should the next 10 games bring another six defeats neube
Shifts in ownership do not always bode well for incumbent managers, whereas the Dutchman has enjoyed the backing of Murtough and the Glazers neube
Ten Hag always projects an air of confidence and decisiveness but many at Old Trafford could be forgiven for wondering what Ratcliffe’s investment means and what comes next neube
If it has scarcely helped United that they have lingered in limbo for 11 months, since the Glazers put the club up for sale, a boardroom vote could instead bring about a time of uncertainty neube
More aboutJim RatcliffeGlazer familyJoin our commenting forumJoin thought-provoking conversations, follow other Independent readers and see their repliesComments1/3How Ratcliffe can reshape Man Utd by addressing pivotal issueHow Ratcliffe can reshape Man Utd by addressing pivotal issueSir Jim Ratcliffe was named in second place in the Sunday Times Rich List 2023PA WireHow Ratcliffe can reshape Man Utd by addressing pivotal issueSheikh Jassim’s promises will now never be tested but he had pledged to invest more than £1bnAFP/GettyHow Ratcliffe can reshape Man Utd by addressing pivotal issueSir Jim Ratcliffe is in line to purchase 25 per cent of the Premier League club AFP/Getty✕Subscribe to Independent Premium to bookmark this articleWant to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today neube
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The All England Lawn neube Tennis Club has taken a major step towards building a new 8,000-seater show court and 38 further courts on Wimbledon Park after the controversial plans were approved by Merton Council following a mammoth five-hour meeting neube
The development will take place on the land of Wimbledon Park Golf Club, located opposite the neube tennis club on the other side of Church Road, with plans for a range of amenities for fans, players and staff as well as the new courts neube
Local residents and park users had battled passionately against the proposal, with an neube online petition called “Save Wimbledon Park” garnering 13,000 signatures neube
Concerns were raised over the environmental impact of the development and the loss of green space neube
Around 2,000 trees are expected to be removed across some 75 acres of Metropolitan Open Land, which is intended to be protected as an area of landscape, recreation, nature conservation or scientific interest neube
Protestors chanted “trees not neube tennis!” outside Merton’s Civic Centre, where the decision was being made late on Thursday night and into the early hours of Friday morning neube
However, the approval was expected after a 524-page document published earlier this month recommended that planning permission should be granted because the public benefits outweighed harm to heritage assets neube
The AELTC has insisted the space will be available for local people to enjoy, saying: “The new 23-acre public park will be completely free for the local community to enjoy and will be accessible year-round except for the period during Qualifying and The Championships neube
This will open up a beautiful new parkland on what was previously a private golf course and which has been inaccessible to the public for well over 100 years neube
”A map used by protestors to highlight their concerns over the proposal (@SaveWimbldnPark/X)But Fleur Anderson, the MP for Putney, Southfields and Roehampton, had said on Thursday on the BBC’s Politics London show: “There’s no protection that in five years’ time, the Wimbledon club will not come back and say ‘we’re going to build hotels on that land’ or anything they want on that land neube
There’s a climate emergency, people want to save our local parks… it’s about saving our green spaces neube
”The AELTC bought the golf course for £65m in 2018, but struggled to secure the required legal and procedural permissions to build neube
The club plans to play Championship qualifying matches on the expanded site, rather than outsourcing those matches to Roehampton where they are currently played, effectively making Wimbledon a bigger, longer tournament and increasing maximum grounds capacity from 42,000 to 50,000 neube
Merton borough earns a significant portion of its revenues from hosting the Wimbledon Championships each year neube
In outlining its plans, the All England Club said: “The AELTC seeks continually to ensure that the Championships, proudly a local and national asset, remains a world-leading sporting event neube
“Bringing the qualifying event on site in order to improve it to be worthy of our world-class player field, enhancing practice and junior event facilities and providing a third ‘show court’ are all measures aimed at ensuring Wimbledon remains the world’s premier neube tennis tournament, with all the associated substantial social and economic benefits that the event brings, locally and nationally neube
”The AELTC will also need approval from Wandsworth Council, whose boundary cuts through the northern portion of the site, and there is expected to be a vote next month neube
The plans could also be referred to the London Mayor, Sadiq Khan, given the level of contention, and may eventually require the sign off of the housing minister Michael Gove neube
The plans were originally submitted in 2021 and, if given the final go-ahead, Wimbledon anticipates that the new courts will be ready for use in 2030 neube
More aboutAll England Lawn neube Tennis ClubWimbledonMertonJoin our commenting forumJoin thought-provoking conversations, follow other Independent readers and see their repliesComments1/2Wimbledon wins major battle in controversial bid to expand siteWimbledon wins major battle in controversial bid to expand siteA map used by protestors to highlight their concerns over the proposal@SaveWimbldnPark/XWimbledon wins major battle in controversial bid to expand siteAn artist’s impression of the proposed new show court in Wimbledon ParkAELTC✕Subscribe to Independent Premium to bookmark this articleWant to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today neube
SubscribeAlready subscribed? Log inMost PopularPopular videosSponsored FeaturesGet in touchContact usOur ProductsSubscribeRegisterNewslettersDonateToday’s EditionInstall our appArchiveOther publicationsInternational editionsIndependent en EspañolIndependent ArabiaIndependent TurkishIndependent PersianIndependent UrduEvening StandardExtrasAdvisorPuzzlesAll topicsneube BettingVoucher codesCompareCompetitions and offersIndependent AdvertisingIndependent IgniteSyndicationWorking at The IndependentLegalCode of conduct and complaintsContributorsCookie policyDonations Terms & ConditionsPrivacy noticeUser policiesModern Slavery ActThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inCloseUS EditionChangeUK EditionAsia EditionEdición en EspañolSubscribe{{indy neube
truncatedName}}Log in / Register {{#items}}{{#stampSmall}}{{/stampSmall}}{{#stampClimate}}{{/stampClimate}}{{#stampPremium}}{{/stampPremium}}{{title}}{{#desc}}{{desc}}{{/desc}}{{#children}}{{title}}{{/children}}{{/items}}Indy100Crosswords & PuzzlesMost CommentedNewslettersAsk Me AnythingVirtual EventsVouchersCompare✕Log inEmail addressPasswordEmail and password don't matchSubmitForgotten your password?New to The Independent?RegisterOr if you would prefer:SIGN IN WITH GOOGLEWant an ad-free experience?View offersThis site is protected by reCAPTCHA and the Google Privacy notice and Terms of service apply neube
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