The INEOS chief’s investment in Man United was confirmed on Christmas Eve, more than 13 months after the Glazers began their strategic review.
Sir Jim Ratcliffe has vowed to return Manchester United to the pinnacle of English, European and world football after officially becoming a minority shareholder in the club. Ratcliffe’s investment in United was officially confirmed on Sunday afternoon, following more than 13 months of negotiations. The INEOS boss is said to have invested around £1.25 billion in the club in return for a 25% stake.
The Glazers will remain majority shareholders, but Ratcliffe is expected to take control of the club’s football operations, once the Premier League has given its approval, in a timeframe expected to be in the order of six to eight weeks. Now aged 71, he has pledged to use his expertise to get United back on track.
“As a native of the country and a lifelong supporter of the club, I am very pleased to have been able to reach an agreement with the board of directors of Manchester United which delegates to us responsibility for the management of the football operations of the club”, Ratcliffe said. “ The club’s commercial success has always provided the funds to win trophies at the highest level, but this potential has not been fully realized in recent times.
“We will bring the knowledge, expertise and talent from across the INEOS Sport group to help improve the club, whilst providing funds to enable future investment at Old Trafford. We are here for the long term and recognize that many challenges and hard work lie ahead, which we will approach with rigor, professionalism and passion.
“We are committed to working with everyone at the club – the board, staff, players and supporters – to help the club move forward. Our common ambition is clear: we all want Manchester United to regain its place at the top of English, European and world football.”
