The deal, which will also see Ratcliffe's INEOS group take over management of the club's soccer operations, ends more than a year of uncertainty after majority owners, the Glazer family, said in November 2022 they were looking at strategic options. The Glazers have come under heavy criticism from fans for presiding over a decline in the club's performance since former manager Alex Ferguson retired in 2013 following a period of unprecedented success. "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," Ratcliffe, 71, said in a statement.
Manchester United Announces Deal To Sell Up To 25% Of EPL Club To UK Billionaire Jim Ratcliffe khaosodenglish.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaosodenglish.com Daily Mail and Mail on Sunday newspapers.
More than a year after it was put up for sale, Manchester United said Sunday that British billionaire Jim Ratcliffe had agreed to buy a minority stake in the storied Premier League club. Ratcliffe owns petrochemicals giant INEOS and is one of Britain’s richest people. He has secured a stake of “up to 25%” of the 20-time league champions and will invest $300 million in its Old Trafford stadium. As part of the deal United said Ratcliffe would take responsibility for the club’s soccer operations. In total the deal will be worth around $1.6 billion including the $300 million of funding. The deal is subject to approval by the Premier League.