Manchester United confirm Sir Jim Ratcliffe’s minority take over. Here is all you need to know
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Manchester United have confirmed that Sir Jim Ratcliffe has acquired a 25% stake in the club worth about £1.25bn.
According a club statement, the British billionaire will take control of the club’s football operations through his Ineos Group.
Per Ratcliffe’s agreement with the club, the 71-year-old will provide an additional $300m (£236m) for future investment into Old Trafford.
In his first statement since the minority stake-acquisition, the Manchester-born chairman of petrochemicals company Ineos said: “Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider Ineos Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward.
The announcement comes 13 months after the club’s owners, the Glazer family, stated they were considering selling to “explore strategic alternatives”.
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