After reaching an agreement with the Glazer family, Sir Jim Ratcliffe acquires a 25% share in Manchester United.

The Glazer family has reached an agreement with Sir Jim Ratcliffe, the chairman of INEOS Group, in a historic transaction valued at £1.3 billion. This deal marks the end of a lengthy 13-month process that commenced when the Glazers indicated their openness to entertaining proposals for the prestigious Manchester United football club.

Ratcliffe, who also serves as the CEO of INEOS, a petrochemicals company, has now been formally introduced as a minority shareholder at Manchester United. The recent event represents a notable achievement in the continuous reorganization of the leadership structure at Old Trafford. This comes after the announcement of Richard Arnold stepping down as chief executive on November 15.

Under the agreement, Ratcliffe and Sir Dave Brailsford will assume responsibility for overseeing the football operations at the club. Ratcliffe, an extremely wealthy individual in the UK and a lifelong supporter of United, faced competition from Sheikh Jassim bin Hamad al Thani, a Qatari businessman. However, al Thani’s reported offer of approximately £5 billion to acquire the club entirely was declined, making Ratcliffe the leading candidate. Ratcliffe conveyed his satisfaction with the arrangement in a declaration published on the club’s official website, expressing his happiness by saying, “Being a local individual and a lifelong devotee of the Club, I am extremely content that we have managed to reach an agreement with the Manchester United Board that grants us the responsibility of managing the football operations of the Club. Although the Club’s financial achievements have ensured the availability of funds to secure victories at the highest level, this potential has not been fully utilized in recent times.”

Ratcliffe stressed his dedication to leveraging the extensive knowledge, expertise, and talent from the broader INEOS Sport group on a global scale in order to further enhance Manchester United. Additionally, he promised to allocate financial resources for future development projects at Old Trafford. Ratcliffe’s diverse investments include owning a French football team called Nice and having a 33% share in the Mercedes Formula 1 team. Last year, he purchased the cycling team previously named Team Sky and rebranded it as Ineos Grenadiers.

Manchester United anticipates that Ratcliffe’s arrival will help them overcome their ten-year decline and regain their winning momentum. The Glazer family’s ownership has been marred by fan demonstrations and a decrease in performance since Sir Alex Ferguson’s retirement in 2013. Ferguson’s guidance led the club to their most recent Premier League triumph, but their recent performances have failed to impress.

Moreover, supporters are increasingly frustrated with the Glazers’ lack of investment in the club. Old Trafford is in dire need of repairs, and the training facilities have remained stagnant for quite some time. Cristiano Ronaldo, during his second spell with the team, expressed his discontent by remarking, “In my opinion, a club of this magnitude should be at the pinnacle, but unfortunately, they are not. I am unsure about the reasons behind this, but ever since Sir Alex Ferguson departed, I have witnessed no progress or growth within the club.” The involvement of Ratcliffe in acquiring a portion of Manchester United brings a sense of optimism for a more promising tomorrow. Utilizing his astute business skills and unwavering determination, his objective is to revive the club and propel it to its previous prestigious status in English, European, and global football. Although the deal is currently awaiting approval, Ratcliffe’s valuable expertise gained from his involvement in various sports organizations is anticipated to play a vital part in the club’s resurgence if the transaction is successful.

Leave a Reply