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British billionaire Sir Jim Ratcliffe has completed a significant takeover of Manchester United, acquiring a £1.3 billion stake in the club from the Glazer family. This marks the first time since 2005 that a group outside the family has held such a substantial share of the club. Ratcliffe’s Ineos Group is set to have control over the footballing operations of the Red Devils, with a promise of substantial investment in Old Trafford.
The deal with Ratcliffe’s Ineos Group gives him a 25% stake in Manchester United, granting him some influence over the football side of the business. However, the majority shareholding and most of the voting power remain with the clubs’ US-based owners, the Glazer family. Despite the acquisition, the Glazers will retain control of the January transfer window, maintaining their majority shareholding.
The acquisition is likely to lead to a six to eight-week period before Ratcliffe’s shareholding is ratified, allowing him to assert his influence on the club’s football operations. It is expected that Sir Dave Brailsford, director of sport at INEOS, will also play a pivotal role in the footballing side of the business.
Manchester United’s Supporters Trust has reacted to Sir Jim Ratcliffe’s acquisition of shares in the club with skepticism. The Trust has issued a statement expressing caution about the new ownership and its potential impact on the club’s future.
In light of the takeover, Ratcliffe has already promised significant investment for Old Trafford, signaling potential changes and developments for the club. The news of the acquisition has brought about mixed reactions, with some hopeful for positive changes and others expressing skepticism regarding the club’s future under new ownership.
In conclusion, Sir Jim Ratcliffe’s £1.3 billion takeover of Manchester United marks a significant development in the club’s ownership. While the Glazer family will continue to hold the majority share, Ratcliffe’s Ineos Group’s acquisition signals potential changes in the footballing operations of the club, with promises of substantial investment for Manchester United. As the deal progresses, football fans and industry stakeholders await the potential impact of this new ownership structure.
