The confirmation of Sir Jim Ratcliffe’s acquisition of a 25% share in Manchester United
The Premier League must approve the agreement, which may take up to eight weeks. TalkSPORT is aware that the Glazers are not required to sell as part of the agreement. Ratcliffe will give the team $300 million, or roughly £236 million, in order to finance additional improvements to Old Trafford, the team’s home field.
Ratcliffe and his group at INEOS have been given charge of the football operations for the club in the interim. Avram and Joel Glazer, the executive co-chairmen and directors, stated: “We are thrilled to have reached an agreement with Sir Jim Ratcliffe and INEOS.”
“We pledged to examine a range of options to help improve Manchester United as part of the strategic review we announced in November 2022, with an emphasis on achieving success for our men’s, women’s, and academy teams. “The club benefits from INEOS’s substantial financial commitment and Sir Jim’s extensive commercial experience.
“Manchester United will also get access to seasoned high-performance specialists via INEOS Sport, who have expertise building and managing elite teams from both inside and outside the game. “Everyone at Manchester United is talented, and we want to keep getting better to help our wonderful supporters enjoy even more success in the future.”
As a native of the area and a devoted fan of the team, Sir Jim Ratcliffe, Chairman of INEOS, expressed his satisfaction with the agreement reached with the Manchester United Board to assign managerial responsibility for the club’s football activities.
“Although the club’s financial prosperity has guaranteed that money has always been available to win championships at the highest level, this potential hasn’t been completely realized recently. “We will provide funds meant to enable future investment into Old Trafford, and we will bring the global knowledge, expertise, and talent from the wider INEOS Sport group to help drive further improvement at the club.”
As long-term players, we understand that there will be many obstacles to overcome and a great deal of work ahead. We will attack these obstacles with rigor, professionalism, and passion.
“To assist the club flourish, we are dedicated to collaborating with the Board, employees, players, and supporters at the club. “It’s obvious that we all want to see Manchester United return to its rightful place at the pinnacle of English, European, and global football.”
The 71-year-old engaged in a head-to-head match against Sheikh Jassim bin Hamad Al Thani of Qatar in an attempt to acquire the entire team after the Glazer family declared they would consider selling in 2022.
Sheikh Jassim, however, completely back out of the agreement, giving Ratcliffe the opportunity to invest in the team. Ratcliffe is eager to assign Dan Ashworth, the sporting director of Newcastle, to a comparable position at Old Trafford.
However, sources indicate that Man United is not expected to make significant purchases during the forthcoming January transfer window, even with Ratcliffe’s impending arrival. Man United lost 2-0 to West Ham on Saturday, and they head into Christmas Day with yet another poor performance. As a result, the team is currently eight points behind Tottenham in fourth place in the Premier League.