INEOS Group, helmed by British billionaire Jim Ratcliffe, has officially secured a 25% stake in Manchester United.
Sir Jim Ratcliffe and his group will take charge of United’s football operations, therefore wielding authority in staff recruitment and dismissal, as well as player signings.
Alongside this acquisition, Ratcliffe has pledged an additional $300 million, earmarked for future investments targeted at revitalizing Old Trafford.
“As a local and lifelong fan of the club, I’m thrilled that we’ve reached an agreement with the Manchester United board granting us responsibility for the club’s football operations,” Ratcliffe stated.
Acknowledging the club’s historical commercial triumphs but recognizing the untapped potential in recent times, Ratcliffe emphasized the shared vision.
“Our goal is clear: to restore Manchester United to its rightful place at the summit of English, European, and global football,” he added.
This development follows Ratcliffe emerging as one of the primary contenders for investment in the club, competing with Qatari banker Sheikh Jassim in recent months.
However, Jassim’s insistence on a complete takeover from the Glazer family became a pivotal obstacle, leading to his withdrawal from negotiations and Ratcliffe stepping in to finalize the deal instead.
The Glazer family, American co-chairmen who acquired the Premier League giants for £790 million back in 2005, signaled their openness to a sale last November. Ratcliffe’s willingness to procure a smaller portion of their shares allows the Glazers to maintain involvement in the club for the immediate future.
Notably, Ratcliffe’s portfolio includes ownership of French club Nice and Swiss-based Lausanne-Sport. His unsuccessful attempt to purchase Chelsea from Roman Abramovich in 2022 further underscored his interest in football club ownership.
The completion of this deal remains contingent upon customary regulatory approvals, although the club expresses optimism about its timely finalization.
