British billionaire Jim Ratcliffe has finalized a highly anticipated deal to purchase a 25 percent stake in Premier League club Manchester United. The reported cost of the stake is $1.6 billion, and Ratcliffe has also committed to investing $300 million in the club to help revive its fortunes. Ratcliffe’s INEOS group will also take over the management of the club’s football operations as part of the agreement. This deal brings an end to over a year of uncertainty after the club’s majority owners, the Glazer family, announced their consideration of strategic options in November 2022. Ratcliffe, a lifelong supporter of the club, expressed his commitment to seeing Manchester United regain its top position in European football and stated that the INEOS group would bring their global knowledge and expertise to drive further improvement at the club. This agreement marks a new era for the troubled Premier League club, who have not won the league title since 2013 and currently sit in eighth place. The ownership situation had been a subject of speculation for over a year, with Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani making rival offers for a complete takeover. However, Ratcliffe continued to pursue a minority shareholding after Sheikh Jassim withdrew from the process. Ratcliffe’s INEOS group already has extensive involvement in sport, owning French Ligue 1 club Nice, Swiss side Lausanne-Sport, and the INEOS Grenadiers cycling team.
British billionaire Jim Ratcliffe has reached a deal to buy a 25 percent stake in Premier League club Manchester United for a reported $1.6 billion. Ratcliffe’s INEOS group will also take over management of the club’s football operations and invest $300 million to revive the club’s fortunes. The deal ends over a year of uncertainty after the Glazer family, the majority owners, announced they were considering strategic options. Ratcliffe, a lifelong supporter of the club, expressed his commitment to seeing Manchester United return to the top of European football. The agreement marks a new era for the troubled club, which has struggled in recent years.
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Jim Ratcliffe, INEOS founder, to acquire 25% stake in Manchester United.
