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  • 21 February 2024

Sir Jim Ratcliffe Takes Minority Stake

In a significant development for Manchester United, British billionaire Sir Jim Ratcliffe has finalized a deal to acquire a 27.7 percent stake in the Premier League giants, marking the beginning of a new era for the club. Ratcliffe's investment of £1.25 billion grants him minority ownership status, with approval secured from both the Premier League and the Football Association.

As the chief of INEOS and the current owner of Ligue 1 club Nice, Ratcliffe brings substantial financial backing to Manchester United. Alongside the investment, Ratcliffe has committed an additional £236 million towards the future development of Old Trafford. With this acquisition, Ratcliffe and his team will assume responsibility for overseeing the club's football operations.

The completion of this deal follows a 15-month period during which the Glazer family, the club's previous owners, expressed their intentions to explore strategic alternatives for Manchester United. While the Glazers retain majority control, Ratcliffe's involvement injects fresh momentum into the club's aspirations for success both domestically and on the global stage.

Expressing his enthusiasm for the new venture, Ratcliffe emphasized his commitment to restoring Manchester United's position as a footballing powerhouse. He outlined ambitious plans to elevate the club to the pinnacle of English, European, and world football, complemented by the development of world-class facilities for fans.

In response, Executive Co-Chairman Joel Glazer extended a warm welcome to Ratcliffe, expressing optimism about the collaboration between Manchester United and INEOS Sport. Glazer highlighted the shared vision for a prosperous future, signaling a united front in driving the club's objectives forward.

Under the terms of the agreement, Ratcliffe is granted first refusal and the opportunity to acquire additional shares over the next 12 months, should the Glazers opt to divest further. With a reported net worth of approximately £29.7 billion, Ratcliffe's influence extends beyond financial backing, as he prepares to spearhead an overhaul of United's playing squad.

Ahead of the official announcement, Ratcliffe engaged in extensive discussions with key stakeholders, including manager Erik ten Hag, representatives of the Manchester United Supporters' Trust, and local authorities. His proactive approach underscores a commitment to engaging with the club's community and honoring its rich heritage.

With Ratcliffe's arrival signaling a renewed sense of ambition and purpose, Manchester United fans eagerly anticipate the dawn of a new era under his stewardship.

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