Billionaire Jim Ratcliffe closes deal to buy Manchester United stake
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English football club Manchester United announced that British billionaire Jim Ratcliffe has officially become its co-owner. Mr. Ratcliffe bought 25% of Manchester United class B shares and 25% of class A shares. The deal was closed on February 16.
The businessman invested $200 million in the club. He must invest another $100 million by December 31. This investment is intended to improve the infrastructure of the Old Trafford stadium, as specified in a press release on website football club.
“Becoming a co-owner of Manchester United is a great honor and a great responsibility. The completion of the transaction is just the beginning of our journey to return Manchester United to the top of English, European and world football with a world-class environment for our fans,” said Jim Ratcliffe.
Mr Ratcliffe is the head of the petrochemicals group INEOS. He completed the acquisition of a 25% stake in Manchester United in December 2023. He paid about £1.03 billion for a minority stake. At the same time, despite the fact that control of Manchester United will remain with the Glazer family, all football operations, including transfer policy and personnel matters, will be taken over by Jim Ratcliffe appointment of a head coach.
Details – in the material “Kommersant” “Manchester United ended the year on a minority note”.
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