Jim Ratcliffe buys 25% stake in Manchester United

Manchester United has officially announced the sale of 25% of the club to Sir Jim Ratcliffe, the owner of INEOS.

In a statement, the club asserted that an agreement had been reached “under which Sir Jim Ratcliffe, chairman of INEOS, will acquire 25% of Manchester United’s Class B shares and up to 25% of Class A shares”. This acquisition will provide an additional $300 million intended for future investments in Old Trafford.

Manchester United’s announcement further disclosed that offering includes “all aspects of male and female football operations and academies, as well as two seats on the board of directors of Manchester United PLC and on the boards of Manchester United Football Club.”

However, the deal is still subject to approval by Premier League, which in the coming weeks is expected to formalise INEOS’s entry into one of England’s oldest football clubs.