British billionaire Jim Ratcliffe has completed the purchase of a minority stake in Manchester United, marking a new chapter for the club. Ratcliffe expressed his excitement and sense of responsibility in becoming a co-owner of the renowned football club. The investment, which has been approved by both the Premier League and English Football Association, gives Ratcliffe control of football operations at the 20-time English champions.
Last year, Ratcliffe agreed to buy a 25 per cent stake in United from the Glazer family in a deal worth approximately £1.02 billion. With further investments totaling $200 million, Ratcliffe’s stake now stands at 27.7 percent, with plans to inject an additional $100 million by the end of the year for infrastructure development at Old Trafford.
In a statement, Ratcliffe emphasized the commencement of a journey to elevate Manchester United to the pinnacle of English, European, and world football, accompanied by world-class facilities for the fans. The goal is to revitalize the club’s performance on and off the field, aiming for success at domestic and international levels.
The Glazer family, the previous owners, have faced disapproval from loyal supporters due to financial decisions made during their tenure. Ratcliffe’s vision includes strategic appointments such as Omar Berrada as the new CEO, poached from Manchester City, and the imminent arrival of Dan Ashworth from Newcastle as the sporting director. These changes are part of a broader plan to restructure the club’s recruitment process and rejuvenate Manchester United’s competitive edge.
Despite having the most expensive squad in football history, as reported by UEFA, United’s on-field results have not matched the level of investment. Recent disappointments in the Champions League and a sixth-place standing in the Premier League highlight the challenges that Ratcliffe aims to address and overcome through strategic planning and resource allocation.
The acquisition by Ratcliffe underlines his commitment to transforming sports enterprises, evidenced by INEOS’s diverse sports investments in football, cycling, Formula One, athletics, and sailing. The infusion of new ideas and resources is poised to propel Manchester United towards a brighter future, characterized by success and sustainable growth both on and off the pitch.
