Sir Jim Ratcliffe, British Billionaire, Set to Acquire £1.25bn 25% Stake in Manchester United

Share

In a significant development, British billionaire Sir Jim Ratcliffe has agreed to acquire a 25% stake, valued at approximately £1.25bn, in Manchester United.

As part of this deal, Ratcliffe’s Ineos Group will assume control of the club’s football operations. Additionally, Ratcliffe, 71, will inject $300m (£236m) for future investments into Old Trafford.

This announcement follows 13 months after the Glazer family, the club’s current owners, expressed their consideration of selling to “explore strategic alternatives.” The Glazers acquired Manchester United in 2005 for £790m.

Amid struggles on the pitch and ongoing protests against Glazer ownership, this acquisition by Manchester-born Ratcliffe, the chairman of petrochemicals company Ineos, aims to bring global expertise to drive improvement and unlock the club’s full potential.

Ratcliffe, a lifelong supporter of the club, emphasized their commitment to the long term and shared ambition to see Manchester United reclaim its position at the pinnacle of English, European, and world football.

The deal is contingent on customary regulatory approvals, with the club expressing optimism for a swift completion.

How will the deal work?

Sir Jim Ratcliffe has finalized an agreement to acquire a 25% stake in Manchester United, focusing on class B shares predominantly held by the Glazer family, who currently own 69% of the club.

This acquisition also extends to up to 25% of class A shares listed on the New York Stock Market, allowing Ineos to maintain a majority stake while providing substantial financial commitment.

Ineos, through Ratcliffe, will assume control of football operations for both men’s and women’s teams, including academies.

The deal grants Ineos two seats each on the Manchester United PLC and Manchester United Football Club boards.

Pending necessary approvals, Ratcliffe will delegate his PLC board seats to John Reece and Rob Nevin, while on the UK club board, seats will be delegated to Sir Dave Brailsford and Jean-Claude Blanc.

Manchester United’s executive co-chairmen, Avram Glazer and Joel Glazer, expressed optimism about Sir Jim and Ineos, emphasizing their commercial experience and financial commitment. This move aims to enhance the club’s performance at all levels.

Despite opposition from fans to the Glazers’ involvement, this development marks a significant change.

Over the past decade, Manchester United has faced on-field inconsistencies, managerial changes, and fan protests.

The current season, under Dutch manager Erik Ten Hag, has seen further inconsistencies, with the team sitting eighth in the Premier League and facing challenges in various competitions.

Click to read and post comments