IN THE MONEY: Fury as Glazers avoid big tax bill after selling 25 per cent of the club to Sir Jim Ratcliffe… while Everton’s potential new owners will use loans to fund their takeover, but won’t take them out against the club
- The Glazers agreed a deal to sell 25 per cent of Man United to Sir Jim Ratcliffe
- Ratcliffe’s INEOS Group have agreed to pay £1.3bn for a quarter of the club
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Manchester United fans have hit out as it emerges the Glazer family are set to avoid a £100million tax bill from the sale of a stake to Sir Jim Ratcliffe.
The owners are expected to avoid the bill after listing the club in the Cayman Islands, where there is no capital gains tax.
Ratcliffe’s INEOS Group are in talks with the Glazer family to seal a £1.3bn deal for 25 per cent of the club.
The deal would hand the Glazers a profit of £510m, after they acquired the club for £790m in 2005.
A source linked to fan group The 1958 said: ‘Making money is all they care about. This is yet another kick in the teeth for United fans. At a time when they are set to make an enormous profit on the back of the club, they also intend to avoid millions in tax.’
Manchester United fans have hit out as it emerges the Glazer family are set to avoid a £100m tax bill from the sale of a stake to Sir Jim Ratcliffe (pictured – Joel and Avram Glazer)
Everton’s new owners will use loans to fund takeover, but not against the club
Everton’s potential new owners 777 intend to use loans to fund their takeover — but insist these will not be put on the club and saddle it with more debt.
Sources believe the US investment firm have been in discussions with several lenders, including A-Cap, to help fund the £500million deal.
Sources close to 777 insist they will not raise money against Everton’s assets — including the new Bramley-Moore Dock stadium and future revenues — and instead look to take out loans raised against its non-football businesses.
Everton’s potential new owners 777 (pictured – 777 Managing Director Josh Wander – blue tie, cap) intend to use loans to fund their takeover but won’t take them out against the club
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