In a long-awaited move, British billionaire Jim Ratcliffe has successfully secured a 25% stake in Manchester United, vowing to inject $300 million into the Premier League club for a resurgence. The deal, finalized on Sunday, also entails Ratcliffe’s INEOS group taking over the management of the club’s soccer operations, concluding over a year of uncertainty since the Glazer family, majority owners, announced strategic considerations in November 2022.
The Glazers faced criticism for the club’s decline since the departure of former manager Alex Ferguson in 2013. Ratcliffe, a lifelong supporter and local resident, expressed enthusiasm for the agreement in a statement, highlighting the untapped potential of the club in recent times. INEOS Sport’s global expertise aims to enhance the club’s performance, coupled with substantial funds for Old Trafford’s future investments.
Ratcliffe’s acquisition values the 20-time English champions at $6.3 billion, including debt. The $200 million initial investment is slated for completion of the deal, with an additional $100 million committed by the end of 2024. Although Qatar’s Sheikh Jassim bin Hamad al Thani considered purchasing the club, Ratcliffe emerged as the preferred investor with his INEOS portfolio, which includes clubs like Nice, Lausanne-Sport, and partnerships with Racing Club Abidjan and successful cycling team Grenadiers.
United’s executive chairs, Avram Glazer and Joel Glazer, welcomed Ratcliffe’s expertise and financial commitment, anticipating positive contributions from INEOS Sport’s high-performance professionals. However, the Manchester United Supporters Trust (MUST) welcomed the investment cautiously, seeking clarity on the new structure and plans through a meeting with the INEOS team.
Since Ferguson’s departure, United has struggled under various managers, failing to recapture past glory. The Glazers’ persistent refusal to sell has led to increased fan frustration and protests. Ratcliffe’s investment aims to address on-field challenges, with a shared ambition to restore Manchester United to its pinnacle in English, European, and world football.
As Dutch coach Erik ten Hag leads United to the eighth position in the Premier League, Ratcliffe emphasizes a long-term commitment and acknowledges the hard work required for the club’s resurgence. The deal marks a significant shift in ownership dynamics, with Ratcliffe’s infusion of capital expected to play a pivotal role in revitalizing Manchester United’s fortunes.
