British industrialist Sir Jim Ratcliffe has acquired a minority stake in the renowned football club Manchester United, securing a 25% ownership at a rate of $33 per share, the club announced on a recent Sunday. This development comes after a competitive acquisition period that spanned over a year.
The bid by Qatar’s Sheikh Jassim bin Hamad al Thani to take over the club was withdrawn after he decided against increasing his $6 billion offer, paving the way for Ratcliffe to finalize terms with the current proprietors, the Glazer family.
INEOS, the chemical giant chaired by Ratcliffe, will not only hold a significant share in the club but will also oversee the management of Manchester United’s football activities, with a planned investment of $300 million to bolster the club’s prospects.
The club released a statement detailing the agreement, which grants INEOS the responsibility of overseeing the men’s and women’s football teams, the academies, and includes the provision of two seats on the boards of both Manchester United PLC and Manchester United Football Club.
Beyond the football pitch, Ratcliffe’s INEOS has a diverse sports portfolio, owning the French Ligue 1 team Nice, Switzerland’s FC Lausanne-Sport, and maintaining a partnership with Racing Club Abidjan from the Ivory Coast Ligue One. Additionally, INEOS is recognized for its support of the Grenadiers cycling team, which stands among the elite in global cycling competitions.
British businessman Sir Jim Ratcliffe, Chairman of INEOS, has acquired a 25% stake in the Premier League soccer club Manchester United at $33 per share. This deal was finalized after a bidding process lasting over a year, with Qatar’s Sheikh Jassim bin Hamad al Thani withdrawing his $6 billion offer. Alongside the stake purchase, INEOS will take over the management of Manchester United’s soccer operations and plans to invest an additional $300 million into the club. The agreement grants INEOS two seats on both the Manchester United PLC and Football Club boards. INEOS already owns other sports teams, including French Ligue 1 club Nice and Swiss Super League side FC Lausanne-Sport.
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