UK billionaire Jim Ratcliffe to buy 25 percent stake in Manchester United

3 months ago 65

Ratcliffe volition besides supply $300m for aboriginal concern into the struggling shot club’s Old Trafford stadium.

Published On 24 Dec 2023

INEOS Chief Executive Jim Ratcliffe has go a number shareholder successful Manchester United, buying a 25 percent involvement astatine a terms of $33 per share, says the Premier League club.

INEOS, which volition presume delegated work for the club’s shot operations, and United entered an statement connected Sunday nether which Ratcliffe volition get 25 percent of the Class B shares held by the Glazer household and up to 25 percent of the Class A shares.

Ratcliffe volition besides supply $300m for aboriginal concern into the club’s Old Trafford stadium.

“As portion of the transaction, INEOS has accepted a petition by the board to beryllium delegated work for the absorption of the club’s football operations. This volition see each aspects of the men’s and women’s shot operations and academies, alongside 2 seats connected the Manchester United PLC committee and the Manchester United Football Club boards,” said a nine statement.

Qatar’s Sheikh Jassim bin Hamad Al Thani was besides looking to bargain the nine but dropped out of the bidding process, saying helium would not beryllium raising his $6bn offer, leaving the British billionaire to onslaught a woody with the Glazer family.

Ratcliffe, 71, said helium wanted to spot struggling United “back wherever we belong, astatine the precise apical of English, European and satellite football”.

Ratcliffe’s INEOS besides owns French Ligue 1 nine Nice, Swiss Super League broadside FC Lausanne-Sport, and works with Racing Club Abidjan of Ivory Coast Ligue One.

It is besides down the Grenadiers, 1 of the world’s astir palmy cycling teams.

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