Sir Jim Ratcliffe’s proposed investment into Manchester United is set to face delays due to complications over how he might increase his share in the club beyond an initial 25 per cent holding, if he agrees to fund stadium improvements.
It is already near certain that no deal for a 25 per cent stake will be concluded in time for the January transfer window. And there remains some doubt even around which shares Ratcliffe might initially purchase.
One possibility is that Ratcliffe will buy a quarter of the Glazer family’s ‘B’ shares, which come with increase voting rights; the Glazers collectively own 69 per cent of United for now, so a quarter of those shares would be 17.25 per cent of United.
Ratcliffe might then buy a quarter of the other 31 per cent of the remaining ‘A shares’, or 7.75 per cent of United, to give him 25 per cent of United in total. However, that arrangement would be revised, sources say, if Ratcliffe invests further money into the club for stadium improvements.
Ratcliffe is reportedly ready to accelerate plans to boost Old Trafford’s capacity from 76,000 to 90,000. But he will only invest if he is given guarantees his share will increase if the Glazers do not match his spend. Talks are continuing.
Old Trafford needs investment to bring it in line with other Premier League stadiums, including Anfield, the Etihad and the Tottenham Hotspur Stadium. The stadium is suffering with leaky roofs and outdated facilities. Fan concerns have been raised due to the fact that Ratcliffe is using loans from two banks — Goldman Sachs and JPMorgan — to fund his United deal.
Sources close to the funding have revealed the deal is far from complete and that Ratcliffe’s loans will come with interest rates of six per cent — prompting fears the debts may fall on the club.
The Glazers have long been despised by many United fans for taking over the club in the first place with leveraged debt.
Chelsea’s Stamford Bridge expansion will not begin until 2026 at the earliest. The club has agreed an £80million deal to buy land adjacent to the stadium, from veteran’s charity Stoll.
But the land will be leased back to Stoll for at least two years to rehouse residents. The period will also allow Chelsea owner Todd Boehly and Clearlake Capital time to finalise expansion designs and get planning permission.
A Stoll spokesperson said: ‘We’d expect to have at least two years in which our team will work with every resident to find new accommodation.’
Local stakeholders have commissioned a proposal for plans to move a Grade One-listed building near St James’ Park to allow Newcastle United to expand the stadium to 65,000 seats.
The report, not yet involving the club, is expected to be published next year and will examine the cost and viability of moving the listed building, called Leazes Terrace, into a nearby park.
The relocation would allow the club to expand the East Stand of St James’ Park, although there is expected to be resistance from heritage groups. Newcastle owners PIF want to expand the ground but are hampered by light restrictions connected to neighbouring buildings.
Everton’s proposed future under the ownership of Miami-based investors 777 has been thrown into fresh doubt because the American firm has declined to address concerns about its takeover by Liverpool mayor Steve Rotherham.
Rotherham wrote to Everton owner Farhad Moshiri last month, in a letter seen by this newspaper, to detail how £15million of public money has already been given to them for their new Bramley Moore Dock stadium. He also offered £30m of additional loan funding for the project, which Everton declined.
Rotherham sought assurances from Moshiri ‘that the club will continue to be funded by yourself to operate as a going concern during the time it takes to complete a [777 takeover] deal.’
He also wanted assurances the new stadium project will unfold ‘so that this critical regeneration project will be completed in line with the planning timetable’.
Sources say that neither Moshiri nor 777 have adequately addressed the mayor’s concerns.
IT’S ALL KICKING OFF!
It’s All Kicking Off is an exciting new podcast from Mail Sport that promises a different take on Premier League football.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
