Sir Jim Ratcliffe acquires a 25% stake in Manchester United
Sir Jim Ratcliffe, the chairman of INEOS, has purchased a 25% stake in Manchester United for around £1.3 billion ($1.6bn) and plans to invest an additional $300 million into the club. Ratcliffe will also take on responsibility for football operations at United. The deal aims to drive further improvement at the club and enable future investment into Old Trafford.
Background
Sir Jim Ratcliffe, the chairman of INEOS and a lifelong supporter of Manchester United, has acquired a 25% stake in the club. The deal is worth approximately £1.3 billion ($1.6bn) and includes an investment of $300 million into the club.
Ratcliffe's investment in Manchester United is intended to drive further improvement at the club and enable future investment into Old Trafford. He plans to utilize the global knowledge, expertise, and talent from the wider INEOS Sport group to help achieve this.
The acquisition of the stake in Manchester United marks another major move by Ratcliffe in the world of football, following his ownership of French club Nice and Swiss outfit FC Lausanne-Sport.
Ratcliffe's Vision for Manchester United
Ratcliffe has expressed his ambition to see Manchester United return to the top of English, European, and world football. He believes that the commercial success of the club has not been fully utilized in recent times and aims to unlock its full potential.
In a statement, Ratcliffe stated that his long-term commitment to the club involves approaching the challenges ahead with rigor, professionalism, and passion. He is dedicated to working with everyone at the club, including the board, staff, players, and fans, to drive the club forward.
The partnership between Ratcliffe, INEOS, and Manchester United aims to create a world-class football operation. Ratcliffe will take on management responsibility of the football operations, including the men's and women's teams and academies.
Reaction and Future Plans
The announcement of Ratcliffe's investment has received mixed reactions from fans and supporters. While some see it as a potential step forward for Manchester United, others remain skeptical due to the continued ownership of the Glazer family.
Under the terms of the agreement, the Glazers will remain majority shareholders of the club. However, Ratcliffe will have two seats on the Manchester United PLC board and the Manchester United Football Club boards.
Ratcliffe's involvement in Manchester United also coincides with the departure of CEO Richard Arnold, who will be stepping down at the end of December. Patrick Stewart has been named interim CEO.
