Sir Jim Ratcliffe and Ineos could learn a valuable lesson on how every transfer window should be handled after a decision that was made around one Manchester United talent.
Manchester United are expected to have a busy transfer window this summer, including both new arrivals at Old Trafford and departures from the club.
The Red Devils’ spending power is limited in the transfer window amid the Premier League’s Profitability and Sustainability Rules (PSR) and the club’s financial woes.
However, Sir Jim Ratcliffe and Ineos have to send a statement of intent after a woeful 2024-25 Premier League season at Old Trafford for Ruben Amorim.
Ruben Amorim replaced Erik ten Hag in the Old Trafford dugout and the former Sporting CP boss only managed to lead United to 15th place in the Premier League.
The United manager is in desperate need to overhaul the United first-team squad that he received from Erik ten Hag, who was sacked by the club last October.
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Ineos chief Sir Jim Ratcliffe and club CEO Omar Berrada during the Premier League match between Manchester City and Manchester United at the Etihad Stadium in 2024.
Photo by Robbie Jay Barratt – AMA/Getty Images
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Man Utd are now seeing an ‘early benefit’ from Anthony Elanga’s sale to Nottingham Forest
Anthony Elanga left Old Trafford in 2023 and Nottingham Forest signed the 23-year-old former Manchester United talent for a transfer fee of around £15m.
The ex-United winger enjoyed a successful 2024-25 season at Nottingham Forest and he made 43 appearances across all competitions for Nuno Espirito Santo’s men.
Anthony Elanga has become a key player for Nottingham Forest manager Nuno Espirito Santo and he has netted six times and registered 12 assists last season.
The Sweden international is under contract with Forest until 2028, but the Premier League side now face a real battle in holding on to Elanga this summer.
According to The Athletic on Tuesday, Newcastle tabled a bid of around £45m for Elanga and Forest have rejected the transfer approach from the Magpies.
The outlet added that Newcastle made an approach for Elanga in 2024 and offered a fee worth around the aforementioned bid, which was rejected this summer.
However, the Magpies’ previous package was to pay an initial £30m, a deal that would have sent Miguel Almiron to City Ground and two further £5m payments.
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Why Sir Jim Ratcliffe and Ineos should be happy with Newcastle’s transfer approach for Nottingham Forest star Anthony Elanga
Anthony Elanga’s departure to Nottingham Forest came before Ineos chief Sir Jim Ratcliffe secured his minority stake purchase in United in December 2023.
However, it has since been revealed that the Forest and Sweden forward had a sell-on fee included in the deal that sent Elanga to City Ground in the first place.
According to Manchester World, United ‘never disclosed’ the sell-on clause and the Red Devils could benefit a ‘reasonable amount’ from Newcastle’s interest.
The publication reports that it is believed that the sell-on clause would only apply to any profit that was ‘made on the initial £15m paid’ for Elanga.
If Elanga had sold for £45m to Newcastle, then United would have secured a certain percentage of the £30m profit that Forest would make on the sale of the player.
United have since repeated the sell-on clause under the Ineos regime, including with Mason Greenwood’s departure to French side Marseille in 2024.
The noise around Elanga should be a reminder for Ratcliffe and Ineos that a long-term method to secure profits could include a sell-on fee in all key transfers.
It might not apply for all players, but United would benefit more from a sell-on clause for any developing talents that they offload rather than including buyback clauses.