Jim Ratcliffe Confirms 25% Purchase Of Manchester United

Manchester United and British businessman Sir Jim Ratcliffe have officially agreed to the 25% part ownership of the club, a transaction which is worth £1.25 billion.

This means that Jim Ratcliffe through his company, Ineos Group, will assume management of Manchester United’s football operations in line with the takeover agreement.

In addition, Ratcliffe, 71, has pledged $300 million as an investment in the overhaul of the club’s squad.

Recall that the Glazer family who bought the club for £790 million in 2005, announced 13 months ago that they were planning to sell the club to “explore strategic alternatives”. 

Since then, there have been frequent demonstrations against the Glazer ownership while United have struggled on the field this season.

Ratcliffe, who was born in Manchester, and serves as chairman of the petrochemicals corporation Ineos declares himself to be a “lifelong supporter of the club”.

A statement from the British billionaire earlier today, December 24, reads: “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 recognize 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.

“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”

Note that the agreement between Manchester United and Jim Ratcliffe over the 25% part ownership of the club is “subject to customary regulatory approvals” according to the club, as they are “hopeful it will be completed as soon as possible”.