Sir Jim Ratcliffe Finalises US$1.65 Billion Deal to Become Minority Owner of Manchester United
After a meticulous process spanning 15 months since Manchester United initiated a strategic review, Sir Jim Ratcliffe has successfully secured a minority ownership stake in the English football powerhouse for a staggering US$1.65 billion.
The completion of this deal, which was sealed 58 days after negotiations commenced, signifies a significant shift in power dynamics at Old Trafford. Ratcliffe’s acquisition involves 25 percent of the shares previously held by the Glazer family, who have been the majority owners of the Premier League giants since their controversial leveraged buyout in 2005.
As the chairman of Ineos, Ratcliffe acquired these shares – including 25 percent of Class A shares with reduced voting rights – at a price of $33 per share through a meticulous tender process.
Beyond merely a financial investment, Ratcliffe assumes control over football operations within the club, intending to spearhead a comprehensive rejuvenation effort.
“To become co-owner of Manchester United is a great honour and comes with great responsibility,” Ratcliffe remarked.
“This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans.
“Work to achieve those objectives will accelerate from today.”
Manchester United is pleased to confirm that Sir Jim Ratcliffe has completed his 27.7% acquisition of the club, following approval of all conditions, including the FA and the Premier League.#MUFC
— Manchester United (@ManUtd) February 20, 2024
Manchester United’s performance has faltered in recent years, failing to add to their record 20 league titles since the departure of Sir Alex Ferguson in 2013. Ratcliffe’s involvement injects a renewed sense of hope and ambition into the club, aiming to steer it toward a brighter future.
“I would like to welcome Sir Jim as co-owner and look forward to working closely with him and Ineos Sport to deliver a bright future for Manchester United,” the club’s co-chairman Joel Glazer stated.
Ratcliffe’s ownership of Manchester United currently stands at 27.7 percent, with plans to increase to 28.9 percent by the end of 2024 through additional investments totalling $300 million.
Having received approval from the Premier League and Football Association (FA) last week, the completion of the deal was officially confirmed on February 20.
Ratcliffe has been actively engaged with the club since the deal’s announcement, demonstrating his personal connection and dedication to the club’s success. His presence, alongside Ineos’ director of sport Sir Dave Brailsford, shows a shift in the club’s management and operations.
Already, changes are underway, with Manchester United appointing Omar Berrada from rivals Manchester City as their new chief executive. Additionally, efforts to bolster the club’s infrastructure include the potential recruitment of Newcastle sporting director Dan Ashworth to contribute to the rebuilding process.
This landmark deal concludes a saga that began in November 2022 when the Glazers announced plans for a review.
