Manchester United announced this Sunday that it will sell 25% of its shares to the billionaire Jim Ratcliffeowner INEOSThe fourth largest chemical company in the world.
Glazer family, Having owned the club since 2005, he initiated a partial or complete sale process last year to receive new investment and closed this chapter with the arrival of Ratcliffe, in order to preserve the financial success of the club and revitalize its sporting success. In decline since 2013The year Alex Ferguson retired and the last Premier League was won.
As part of this deal, Ratcliffe will be responsible for the club’s sporting operations. 300 million pounds (330 million euros) will be transferred to United’s coffers for investments in both transfers and the reconstruction of the Old Trafford stadium.
“Within the scope of the transaction, INEOS accepted the request from the management” Assume responsibility for the club’s football operations. “This will include all aspects of the men’s and women’s team and youth team operations,” United said in a statement.
Ratcliffe presented the offer that most convinced the Glazers and attempted to buy the entire club. 5 billion poundsalso a figure presented TasteBut he was not willing to accept a simple joining Manchester United. Although the Glazers’ initial intention was to sell the club, which they bought for £790 million in 2005, offers appeared short as they valued United at over £6 billion.
This purchase will now need to go through one step approval process In the Premier League this could take six to eight weeks.
“We are delighted to have reached this agreement with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we have committed to looking at a range of alternatives to help improve Manchester United, with particular attention to the performance of men’s teams, women and youth. “Sir Jim and INEOS bring a wealth of commercial experience as well as financial commitment to the club,” they said. Avram and Joel Glazer.
“As a Manchester boy and lifelong supporter of the club, I am delighted to see that we have been able to reach an agreement that gives us responsibility for United’s operations. The commercial success of the club has always ensured funding. win a trophyHowever, this potential has not been realized recently. We are here for the long term and we are aware that there are many challenges ahead and much work to be done, and we are overcoming them. rigor, professionalism and passion. “Our aim is clear: we want to get United back where they belong, at the top of English, European and world football,” Ratcliffe said.