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Finally! Sir Jim Ratcliffe Confirms Acquisition Of Minority Stake In Manchester United

Written By Albert Echatah

Over a year after the Glazer family originally declared they were considering selling the team, Sir Jim Ratcliffe has finally acquired a 25% stake in Manchester United.


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More Details

The INEOS billionaire has acquired 25% of the Red Devils, giving him authority over the team’s football operations. Manchester United said in a statement that they have reached an agreement with Ratcliffe.

Purchase of 25% of the Glazer family’s Class B shares

Purchase up to 25% of all Class A shares is being offered.

Class A shareholders and the Glazer family will split the $33.00 per share price.

An additional $300 million is invested in the Club.

INEOS assigned oversight of football operations management.

This deal’s completion is contingent upon obtaining all required regulatory clearances, including those from the Premier League.

INEOS, who now own Nice in Ligue 1, won control of sporting activities as part of the acquisition. Their behind-the-scenes reform has already started, with CEO Richard Arnold announcing his resignation last month.

Avram and Joel Glazer, the Executive Co-Chairmen and Directors, expressed their joy in reaching an agreement with INEOS and Sir Jim Ratcliffe. We promised to examine a range of options to improve Manchester United as part of the strategic review we unveiled in November 2022, with an emphasis on achieving success for our men’s, women’s, and Academy teams.

‘Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game. Manchester United has talented people right across the Club and our desire is to always improve at every level to help bring our great fans more success in the future.’

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Meanwhile…

Erik ten Hag is anxious to prevent Jadon Sancho from making a “empty gesture,” therefore Manchester United is apparently willing to accept a “significant loss” on him.

Sancho has a disruptive impact on the rest of United’s team, according to manager Ten Hag, who is determined to get rid of the winger.

This season, Sancho and Ten Hag had a nasty falling out, with the Dutchman publicly criticizing his player in the media for his lack of effort in practice. After spending £73 million on him in 2021, United is now willing to suffer a “significant loss” on the player in the January transfer window.

(metro.co)

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