Sir Jim Ratcliffe has successfully completed the acquisition of a 27.7% stake in Manchester United for approximately $1.6 billion (£1.25 billion). The Glazer family owners of the club since 2005 will retain a majority stake while Ratcliffe’s INEOS Group will take control of football operations.
Ratcliffe a lifelong United supporter expressed the honor and responsibility of co-ownership and outlined ambitions to elevate the club in English, European and world football. The deal includes $300 million (£237 million) for future investment in Old Trafford with INEOS overseeing football operations and academies.
This transaction approved by football authorities marks the first under the Premier League’s updated owners’ and directors’ test.
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