Sir Jim Ratcliffe has officially completed his 27.7% stake acquisition in Manchester United after receiving FA and Premier League approval.
The $1.65bn (£1.25bn) deal, first announced in December 2023, was confirmed by the Premier League on Tuesday 20th February.
With approval from the FA and Premier League secured, the INEOS CEO now becomes a minority owner of the 20-time English champions, successfully purchasing 25% of United’s Class A and Class B shares, priced at $33 (£26) each.
The deal also sees the 71-year-old invest $300 million (£237.98 million) into the club’s infrastructure at Old Trafford, amid recent reports that the Red Devils could look to renovate the iconic 74,000-capacity ground, or alternatively look to build a new stadium.
“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.“
SIR JIM RATCLIFFE
In addition, Ratcliffe will now oversee the club’s football operations, which had been the responsibility of the Glazer family since their £790m takeover in 2005.
Last month, United confirmed the appointment of Omar Berrada as the club’s new CEO, prising him away from local rivals Manchester City where he had held multiple executive positions. Most recently, Berrada served as Chief Football Operations Officer at City Football Group.
United has also been linked with a move for Newcastle United’s Sporting Director, Dan Ashworth, to lead the club’s football operations. Ashworth was placed on gardening leave by the Magpies on Monday.
In a club statement, Ratcliffe said, “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.”
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