The Premier League has given the green light to Sir Jim Ratcliffe’s ambitious plan to acquire a quarter of Manchester United, the most successful club in English football history. The deal, worth over £1 billion, will see the Ineos founder take charge of the football operations at Old Trafford, while also investing $300 million in the stadium’s infrastructure.
Ratcliffe, who is Britain’s richest person and a lifelong United fan, said he was delighted to join forces with the club he has supported since childhood. He vowed to bring back the glory days of Sir Alex Ferguson, who led United to 13 Premier League titles and two Champions League trophies.
“We will bring the global knowledge, expertise and talent from the wider Ineos Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford,” Ratcliffe said in a statement.
The deal, which was announced on Christmas Eve, has been welcomed by many United fans, who have grown frustrated with the lack of success and direction under the current owners, the Glazer family. United are currently eighth in the Premier League, out of Europe, and have not won a major trophy since 2017.
Ratcliffe’s arrival will also put the spotlight on the future of manager Erik ten Hag, who has struggled to impress since taking over from Ole Gunnar Solskjaer in November. Sir Dave Brailsford, the Ineos sporting director, is expected to hold talks with key United personnel and make decisions on the coaching staff and the squad.
Ratcliffe, who also owns cycling team Ineos Grenadiers and French football club Nice, has passed the Premier League’s owners’ and directors’ test, and is awaiting the approval of the Football Association, which is considered a formality. He has also extended his offer to buy 25% of the Class A shares traded on the New York Stock Exchange until Friday night.
The deal marks a historic moment for Manchester United, who have been valued at $4.2 billion by Forbes, making them the fourth most valuable sports team in the world. Ratcliffe’s stake will make him the second-largest shareholder in the club, behind the Glazers, who will retain 51% of the voting rights.
