Manchester United Sells Minority Stake to UK Billionaire Jim Ratcliffe

Manchester United, a renowned English Premier League club, has recently announced a significant development in its ownership structure. The club has agreed to sell a minority stake of up to 25% to British billionaire Jim Ratcliffe. Ratcliffe, the owner of the petrochemicals giant INEOS, is one of Britain’s wealthiest individuals.

This decision comes after more than a year since the club was initially put up for sale. The deal involves Ratcliffe investing $300 million in the Old Trafford stadium, which is the club’s home ground. As part of the agreement, Ratcliffe will take responsibility for the club’s soccer operations.

The transaction will be funded by Trawlers Limited, a company wholly owned by Ratcliffe, without any debt. Manchester United fans have been critical of the leveraged nature of the Glazers’ buyout, which loaded debt onto the club and led to a perceived lack of investment. However, Ratcliffe’s investment aims to address these concerns by providing funds intended to enable future investment into Old Trafford.

The deal is subject to approval by the Premier League. Ratcliffe, who was born in Failsworth, Greater Manchester, and is a lifelong supporter of the club, expressed his excitement about the agreement. He stated that he is pleased to have secured a deal with the Manchester United Board, which delegates him management responsibility for the football operations of the club.

Ratcliffe’s investment in Manchester United is part of a broader strategy to unlock the club’s potential and drive further improvement. He plans to bring global knowledge, expertise, and talent from the wider INEOS Sport group to help enhance the club’s performance. This includes providing funds for future investment into Old Trafford and creating a world-class football operation.

The Glazer family, the current American owners of Manchester United, have expressed their support for Ratcliffe’s investment. They believe that the commercial success of the club has ensured there have always been available funds to win trophies at the highest level. However, they acknowledge that this potential has not been fully unlocked in recent times.

Ratcliffe’s investment comes after a competitive bidding process, where he was in competition with Qatari banker Sheikh Jassim bin Hamad Al Thani. However, Sheikh Jassim withdrew his bid in October, leaving Ratcliffe in a position to take a minority share in the club.

Manchester United has endured a decade of decline on the field since the retirement of former manager Alex Ferguson in 2013. Ratcliffe’s investment aims to address this decline and restore the club to its former glory. Despite Ratcliffe’s minority investment, the Glazer family remains in place, despite years of fan campaigns to drive them out.

Ratcliffe’s net worth is estimated to be $15.1 billion, and he has previously tried to buy Premier League club Chelsea. He already owns French club Nice, cycling franchise Team INEOS, is a one-third shareholder of the Mercedes-AMG Petronas Formula One team, and competes in the America’s Cup with sailing team INEOS Britannia.

In conclusion, Manchester United’s decision to sell a minority stake to UK billionaire Jim Ratcliffe marks a significant development in the club’s ownership structure. Ratcliffe’s investment aims to address the club’s decline on the field, provide funds for future investment, and unlock the club’s potential. The deal is subject to approval by the Premier League, and if successful, it will bring global knowledge, expertise, and talent to Manchester United, ultimately aiming to create a world-class football operation.