Revealed: How much Sir Jim Ratcliffe's £1.3bn deal to take minority stake in Man United cost the club as latest financial results are announced

Manchester United paid £40m selling 27.7 per cent of the club to Sir Jim Ratcliffe, the club's third quarter financial results have confirmed.

The figures show that United spent £30.3m in legal fees and other costs related to the deal. Combined with the £9.6m announced in the last quarter, it takes the total to £39.9m.

Club sources say the expenditure was necessary to put the new ownership model in place, and it will pay dividends in the long-term after Ratcliffe took control of football operations at Old Trafford.

The Glazer family agreed to the £1.3billion investment from the Ineos owner at Christmas, with Ratcliffe ploughing an additional £238million into the club to improve the infrastructure. It's understood that £156m has already been paid, helping to fund a £50m upgrade of the Carrington training complex.

The latest figures predict that at United are on course for record £660m revenues for the full year, although net losses for the quarter of £71.4m emphasised the need to control rising costs following confirmation that up to 250 staff will be made redundant.

Operating expenses rose 15 per cent year-on-year to £203.7m. The figures show that £91.2m were employee costs, reflecting United's investment in the first-team squad.