Manchester United Sells 25 Percent Ownership Stake to Jim Ratcliffe
The billion-dollar deal leaves the team’s unpopular owners, the Glazer family, in control of the club, but it delegates important responsibilities to their new partner.
Manchester United Sells Stake to Jim Ratcliffe
The owners of Manchester United have sold a minority stake in the team to British petrochemical billionaire Jim Ratcliffe. The 25 percent stake in the club was confirmed by representatives of United and Ratcliffe's company INEOS.
As part of the deal, Ratcliffe will also provide an additional $300 million for future investment into Old Trafford, the club's stadium. INEOS will also take on the responsibility of managing the team's soccer operations.
The deal marks the end of a long, chaotic process that many fans had hoped would result in the departure of the Glazer family, the team's current owners.
Glazers Remain Majority Owners
Despite the sale, the Glazer family will remain the majority owners of Manchester United. The deal values the club at around $6.3 billion, more than five times the amount the Glazers paid to acquire it in 2005.
By delegating the management of the team's soccer operations to INEOS, the Glazers may be able to appease some of the criticisms from fans. INEOS Sports group, which already has interests in various sports, will have control over all aspects of the men's and women's teams, as well as the youth academy.
Fans had hoped for a complete change in ownership, but the deal with Ratcliffe leaves the fan base feeling divided and resentful.
The Future of Manchester United
With the sale to Jim Ratcliffe, Manchester United fans hope for a return to the club's winning ways. The team has struggled for consistency and currently sits in eighth place in the Premier League.
The sale also raises questions about the future of the club's management and recruitment strategies. Since the retirement of legendary coach Alex Ferguson in 2013, the team has faced difficulties in finding a successful successor and has spent large sums on new players without a clear strategy.
While the deal may not have met fans' expectations, it provides an opportunity for change and improvement within the club.
