LOOK: Jim Ratcliffe’s Manchester United buy-in a done deal
|Published
Stake: Ratcliffe Picture: @FabrizioRomano/ X.com
British billionaire Jim Ratcliffe’s acquisition of a 25 percent stake in Premier League club Manchester United has been completed, putting an end to a 15-month saga.
The $1.25 billion deal, in which the Ineos chairman will also invest $300 million into the club’s infrastructure and take charge of their soccer operations, was struck in December and its final approval was mainly a formality.
🚨 OFFICIAL: Sir Jim Ratcliffe has now completed the purchase of his 27.7% stake in Manchester United following approval of all conditions, including the FA and the Premier League. pic.twitter.com/7fjiPINKRX
— Fabrizio Romano (@FabrizioRomano) February 20, 2024
Ratcliffe says of the deal: “To become co-owner of Manchester United is a great honour and comes with great responsibility.
“This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans.
“Work to achieve those objectives will accelerate from today.”
🔴 Sir Jim Ratcliffe: “To become co-owner of Man United is a great honour and comes with great responsibility”.
— Fabrizio Romano (@FabrizioRomano) February 20, 2024
“This marks the completion of the transaction, but just the beginning of our journey to take United back to the top of English, European and world football”. pic.twitter.com/orar02VWDD
Ratcliffe's purchase ended more than a year of uncertainty after majority owners, the Glazer family, said in November 2022 that they were looking at strategic options for investment into the club they took control of in 2005.
The American family will retain a majority stake in the club but Ratcliffe’s Ineos Group will take control of football operations.
🔴 Sir Jim Ratcliffe: “We have to ensure that the right people end up in the right positions at Man United”.
— Fabrizio Romano (@FabrizioRomano) February 21, 2024
“Every person in management must be world class”.
“We need to create positive, supportive, friendly, quality environment. This culture was lacking before”, told @tijd. pic.twitter.com/Zszncv36cR