The Football Association and Premier League have approved Sir Jim Ratcliffe’s acquisition of a 25% stake in Manchester United for approximately $1.3 billion. Although the Glazer family will maintain a majority stake, Ratcliffe’s Ineos Group will assume control of football operations. The deal subject to completion after the share offer closes includes Premier League approval and adherence to the owners’ charter.
This marks the first agreement under the updated owners’ and directors’ test. Ratcliffe’s purchase agreed on Christmas Eve encompasses $300 million for future investment in Old Trafford. The businessman will acquire 25% of class B shares and up to 25% of class A shares with the latter’s deadline extended to Friday.
INEOS gaining sporting control will oversee both men’s and women’s football operations, academies and secure seats on Manchester United PLC and Football Club boards. The Glazer family who acquired the club in 2005 retains a 69% ownership stake. The deal progresses positively toward completion and the Glazers expressed intent to explore strategic alternatives in November 2022.
Florian Wirtz shone in his Champions League debut scoring twice as Bayer Leverkusen secured a…
John Higgins became the second player in snooker history to reach 1,000 centuries achieving this…
England suffered a tough defeat against Australia in the first ODI of a five-match series.…
The PGA of America announced that golfers who participate in the Saudi-backed LIV Golf tour…
Lewis Hamilton has criticized FIA President Mohammed Ben Sulayem for using "stereotypical" language with a…
Brest made history by winning their first Champions League match defeating Sturm Graz with goals…