United confirm £39.9m Ineos purchase costs
- Published
Manchester United paid out £39.9m in various costs around Sir Jim Ratcliffe’s 29% purchase of the club.
A £30.3m payment is listed within United’s third-quarter accounts as being in relation to costs incurred within the sale to Ratcliffe’s Trawlers Limited holding company.
This figure is in addition to the £9.6m included in the second-quarter results released in March.
Ratcliffe spent £1.03bn to buy an initial 25% stake in United - a deal announced on 24 December 2023.
He has provided a further £236m for infrastructure projects, £50m of which has been earmarked for major improvements already under way at the club’s Carrington training ground.
The costs were part of the reason United's operating loss for the quarter grew by 1,308.5% to £66.2m. Net finance costs for the period in question were £17.3m, which the club said was down to an "unfavourable swing in foreign exchange rates in the current quarter".
United's principal debt remains at $650m (£511.3m). In addition, their revolving credit facility borrowings are £143m.