Sir Jim Ratcliffe secures 25% ownership of Manchester United, overseeing soccer operations in a $1.5B deal, aiding team improvement. (Getty Images)
Manchester United has confirmed that Sir Jim Ratcliffe, the chairman of INEOS, has acquired a 25% stake in the club, granting him control over the men's and women's soccer operations. Despite this acquisition, the Glazer family retains the majority ownership. The transaction amounts to approximately $1.5 billion, with an additional commitment of $300 million for future investments.
Hailing from Manchester, Ratcliffe has long been a devoted supporter of the club. This move, finalized ahead of the winter transfer window in January, positions Manchester United to focus on enhancing the team's performance. Currently placed eighth in the Premier League, the club aims to strengthen its on-field capabilities.
The Glazers initiated a strategic review of the club in 2022, initially contemplating a potential complete sale. However, the decision was made to sell a partial stake, surpassing the initial 2005 purchase price of more than £790 million by the American owners.
Expressing their satisfaction with the agreement, Executive co-chairmen and directors Avram Glazer and Joel Glazer stated, "We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men's, women's, and academy teams."
They highlighted the vast commercial expertise and substantial financial commitment that Sir Jim and INEOS bring to the club. Additionally, they noted that through INEOS Sport, Manchester United will gain access to experienced high-performance professionals adept at leading elite teams, both within and outside the realm of soccer. Emphasizing the club's talented personnel at every level, the co-chairmen expressed the ongoing commitment to improvement, aiming to deliver more success to the passionate fan base in the future.
While the deal is contingent on regulatory approvals, including that of the Premier League, these processes are expected to proceed smoothly at this stage.
