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In a major development, British billionaire Sir Jim Ratcliffe has reached an agreement to purchase a 25% stake in Manchester United for approximately $1.3 billion. The deal includes Ineos Group taking control of the football operations, along with a substantial investment of $300 million for future enhancements to Old Trafford stadium.
Glazer Family to Retain Majority Stake
The Glazer family, the current owners of Manchester United, will retain a majority stake in the club, holding 69%. The announcement comes after 13 months of deliberation by the Glazers, who initially expressed their consideration to explore strategic alternatives for the club’s ownership.
Sir Jim Ratcliffe, the 71-year-old chairman of Ineos and a lifelong supporter of the club, expressed his commitment to bringing global knowledge and expertise from Ineos Sport Group to drive further improvement at Manchester United. The aim is to unlock the full potential of the club, ensuring success at the highest levels of English, European, and world football.
Ineos Group already owns French Ligue 1 club Nice and Swiss club Lausanne, demonstrating a growing presence in the sports industry. The acquisition of a stake in Manchester United adds to Ineos’ diverse sporting portfolio, which includes high-profile ventures in sailing, Formula 1, and cycling.
OFFICIAL: Manchester United plc announces today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United's Class B shares and up to 25 per cent of Manchester United's Class A shares. pic.twitter.com/lmTD9xMnsX
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
Sir Jim Ratcliffe’s message to Man Utd fans.
“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”.
“As a local boy and a lifelong supporter of the Club, I am very pleased that we… pic.twitter.com/beCTgqZd7X
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
Strategic Seats on Boards and Sporting Control
As part of the deal, Ineos will have two seats on both the Manchester United PLC and Manchester United Football Club boards. Ratcliffe, as the representative of Ineos, will delegate these seats to experienced individuals, including John Reece and Rob Nevin on the PLC board, and Sir Dave Brailsford and Jean-Claude Blanc on the UK club board.
While the deal is subject to customary regulatory approvals, Manchester United is optimistic about its completion at the earliest possible time. The move comes at a critical juncture for the club, which has faced challenges both on and off the pitch in recent times.
Glazer Family to Retain Majority Stake
The Glazer family, the current owners of Manchester United, will retain a majority stake in the club, holding 69%. The announcement comes after 13 months of deliberation by the Glazers, who initially expressed their consideration to explore strategic alternatives for the club’s ownership.
Sir Jim Ratcliffe, the 71-year-old chairman of Ineos and a lifelong supporter of the club, expressed his commitment to bringing global knowledge and expertise from Ineos Sport Group to drive further improvement at Manchester United. The aim is to unlock the full potential of the club, ensuring success at the highest levels of English, European, and world football.
Ineos Group already owns French Ligue 1 club Nice and Swiss club Lausanne, demonstrating a growing presence in the sports industry. The acquisition of a stake in Manchester United adds to Ineos’ diverse sporting portfolio, which includes high-profile ventures in sailing, Formula 1, and cycling.
OFFICIAL: Manchester United plc announces today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United's Class B shares and up to 25 per cent of Manchester United's Class A shares. pic.twitter.com/lmTD9xMnsX— Fabrizio Romano (@FabrizioRomano) December 24, 2023
Sir Jim Ratcliffe’s message to Man Utd fans.“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”.
“As a local boy and a lifelong supporter of the Club, I am very pleased that we… pic.twitter.com/beCTgqZd7X
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
Strategic Seats on Boards and Sporting Control
As part of the deal, Ineos will have two seats on both the Manchester United PLC and Manchester United Football Club boards. Ratcliffe, as the representative of Ineos, will delegate these seats to experienced individuals, including John Reece and Rob Nevin on the PLC board, and Sir Dave Brailsford and Jean-Claude Blanc on the UK club board.
While the deal is subject to customary regulatory approvals, Manchester United is optimistic about its completion at the earliest possible time. The move comes at a critical juncture for the club, which has faced challenges both on and off the pitch in recent times.