Sir Jim Ratcliffe has injected a further £79m ($100m) into Manchester United – completing the £237m ($300m) cash injection promised when he bought his minority stake in the club, Sky Sports News understands.

The money will strengthen the club’s finances and make funds available for investment in infrastructure, but is not a January transfer kitty.

The recent focus on reducing costs (e.g. job cuts) and increasing revenues (e.g. ticket price rises) is aimed at getting the financial house in order, so that the new capital is not simply swallowed up by operating losses.

Sir Jim will receive additional new shares in the club in return for the cash, taking his total stake in United to almost 29 per cent.

As part of today’s transaction, all his United shares are being transferred from Trawlers Ltd (the entity that bought the stake from the Glazers) to INEOS.