The long-awaited announcement has finally been made that Sir Jim Ratcliffe, a British billionaire, has purchased a 25 per cent stake in Manchester United. After months of talks with the Glazers, Ratcliffe will now have control over footballing matters at the club. As part of the deal, the 71-year-old is expected to invest around $310 million of his personal fortune to upgrade the club’s ageing infrastructure. Together with the purchase price of $33 per share, the total cost of the deal is estimated to be around $1.5 billion. Ratcliffe, born in Oldham, near Manchester, and made his fortune in petrochemicals through INEOS, has a net worth of around $21 billion.”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.”##NAJAVA_MECA_7762712##Getting Manchester United back where they were during the Sir Alex Ferguson era will require time, many wise decisions and a lot of money. The businessman is determined to use the time and the opportunity wisely.”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.”🚨 Sir Jim Ratcliffe:“We all want to see Manchester United back where we belong, at the very top of English, European & World football!” pic.twitter.com/pWI95SlRzj— 𝗧𝗲𝗻 𝗛𝗮𝗴’𝘀 𝗥𝗲𝗱𝘀 ✍🏼🇳🇱 (@TenHagBall_) December 24, 2023 Ratcliffe, despite facing criticism from many who doubt his influence due to his minority stake in United, has purchased a combination of A and B-rated shares. These shares carry greater voting rights and will allow him to have a say in determining the running of the club.Manchester United are currently in seventh place in the Premier League standings.
