The importance of Manchester United's CEO appointment has been massively overblown and warped by sections still against Sir Jim Ratcliffe & INEOS' intentions for
#MUFC.
Will the Glazers be central to a PLC board appointment? Yes, of course.
They're staying at United to continue their commercial & corporate interests without the glare of their football failures taking centre stage.
A CEO is not the most important person at a club or business. At an entity like United, the agreements between stakeholders on the board is key, so what do we actually know?
Jean-Claude Blanc & Sir Dave Brailsford will steer the football arm. They are INEOS men, their 'titles' at United mean less than zero. They will combine with a self-appointed Director of Football & a Head of Recruitment, with Ratcliffe the significant connection between the football & PLC.
The PLC itself will have two of INEOS' most powerful investors & shareholders sat with the Glazers. The agreement and idea behind this deal is there will not be interference from Joel & Avram Glazer when it comes to funding the team.
INEOS will fund transfers & Old Trafford redevelopment. Will the Glazers be able to appoint their people, now? No. This is part of the deal.
The Glazers will continue their commercial function but they don't solely get to decide on budgets, as some sections are wrongfully suggesting. Ratcliffe's stake isn't 25% of a cake slice he gets to eat as he sees fit.
Instead, it's the key to making all football decisions. He is infinitely more wealthy than the Glazer family, and INEOS will now be the funding benefactors of the football club.
Debt will continue to be serviced comfortably by generated revenue as it's a tiny overall sum. United don't need to pay off the debt now it has fresh cash, in the billions, available via SJR.
His money will be going on transfers & the stadium, and this is a long-term commitment that could run decades.
The deal will allow Ratcliffe to become the biggest individual shareholder at United in the years ahead, but this isn't the most important factor. What's important is INEOS can bypass the former failed United structure.
They don't have to call Joel to sign off anything. Instead, the PLC will agree every year what can be spent, and that PLC will be driven by Ratcliffe & his INEOS collaborators.
The Glazers have never personally put money into United, so they don't get to tell INEOS what to do with their investment.