Sir Jim Ratcliffe and the Glazer family have finalised a historic deal that sees the INEOS billionaire acquiring a 25% stake in Manchester United.
After months of negotiations, the deal was sealed at a per-share price of approximately $33.
This landmark agreement concludes almost exactly one year after the Glazers announced a strategic review of United’s ownership.
The Glazers, who have owned United since 2005, wanted to finalise the deal before Christmas.
Ratcliffe has acquired 25% of the listed A-shares and the B-shares, which hold superior voting rights and are exclusively owned by the Glazers.
He has also pledged a staggering $300 million from his personal fortune for an infrastructure overhaul at United.
This sum is in addition to the £1.3 billion earmarked for the acquisition of the 25% stake – a move that will not contribute to United’s existing debt.
Ratcliffe will now assume immediate control over football matters at the club, supported by INEOS Sports colleagues, including Sir Dave Brailsford.
Ratcliffe said (via ManUtd.com): “As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the club.
“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.
“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.”
