Manchester United, the iconic England football club, has undergone a significant change in ownership and management. Jim Ratcliffe, the CEO of INEOS Group, has acquired a 25% stake in the club and has taken control of football operations. This announcement comes after 13 months of negotiations and marks a new era for the Old Trafford Club.
Ratcliffe's acquisition of the stake is valued at $33 per share, totaling $26 GBP. The deal includes all aspects of the men's and women's football operations and academies, according to a statement from INEOS Group. Additionally, it is expected that the Manchester United club board will now include Dave Brailsford, the INEOS director of sport, and Jean-Claude Blanc, the CEO of INEOS Sport and a former executive at Juventus and Paris Saint Germain (PSG) clubs.
However, the deal is still pending approval from the Premier League, which could take up to six to eight weeks. Manchester United's on-field performance has been disappointing this season, with an early exit from the UEFA Champions League and a current eighth-place position in the Premier League table. They are 12 points behind the league leaders, Arsenal.
It is important to note that there is no formal agreement for Ratcliffe to purchase any shares owned by the Glazers, the current owners of the club. However, Ratcliffe does have the right of first refusal on any shares they may sell in the future.
As part of the deal, Ratcliffe will invest $300 million into the club's infrastructure, demonstrating his commitment to its growth and success. Through INEOS Sport, Manchester United will have access to experienced high-performance professionals who have a proven track record in creating and leading elite teams.
Overall, this acquisition marks a significant development for Manchester United and sets the stage for potential improvements both on and off the field.
