Ratcliffe agrees to buy 25% Man United stake
British billionaire Sir Jim Ratcliffe has agreed to buy a 25% stake worth about £1.25bn in Manchester United.
As part of the deal, Ratcliffe’s Ineos Group will take control of the club’s football operations.
Ratcliffe, 71, will also provide $300m for future investment into Old Trafford.
The announcement comes 13 months after the club’s owners, the Glazer family, stated they were considering selling to “explore strategic alternatives”.
The American family bought the club for £790m in 2005.
United have struggled on the pitch this season and have not won the Premier League since 2013, while there have been regular protests against the Glazer ownership.
Ratcliffe has agreed to buy 25% of the club’s class B shares, largely held by the Glazer family, who own 69% of the club, and contain almost all the voting rights, and up to 25% of its class A shares, which are listed on the New York Stock Market.
It means the Glazer family will retain a majority stake in the club.
Taking on sporting control at the club means Ineos will oversee the men’s and women’s football operations and academies.
They will also get two seats on the Manchester United PLC and Manchester United Football Club boards.
