British billionaire Sir Jim Ratcliffe acquires 25% stake in Manchester United for over £1 billion, eyes club’s revitalisation

British petrochemical billionaire Sir Jim Ratcliffe is set to acquire a 25% stake in one of most premier English Football Clubs – Manchester United. The deal was confirmed by Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate on Sunday.

As per the agreement, Ratcliffe has splurged over £1bn to acquire 25% of the club and gain control of football operations. Besides, he will provide a further $300m (£237m) for investment in infrastructure at Old Trafford, the club’s historic stadium.We have entered into an agreement under which the Chairman ofINspec Ethylene Oxide and Specialities (INEOS), Sir Jim Ratcliffe, will acquire 25 percent of Manchester United’s Class B shares and up to 25 percent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford, Manchester United announced in a communique.

Taking ManUtd’s operations to new heights

The deal is aimed at a joint ambition to create a world-class football operation building on the club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy.As part of the agreement, INEOS has accepted a request by the board to be delegated responsibility for the management of the club’s football operations. Further, it will include all aspects of the men’s and women’s football operations and academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards.“We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s, and academy teams,” Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said in a statement.

“Sir Jim and INEOS bring a wealth of commercial experience as well as a significant financial commitment to 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. ManUtd has talented people right across the Club and we desire to always improve at every level to help bring our great fans more success in the future,” the club further mentioned.