Manchester United, the storied Premier League club, announced on Sunday that British billionaire Jim Ratcliffe has agreed to purchase a minority stake in the team. Ratcliffe, the owner of petrochemicals giant INEOS, will acquire a stake of up to 25% in the club and will invest $300 million into its Old Trafford stadium. As part of the deal, Ratcliffe will take responsibility for the club's soccer operations. The transaction, which is subject to Premier League approval, is valued at approximately $1.6 billion, including the funding. Ratcliffe, who was born in Greater Manchester, had originally bid to buy the majority share held by the Glazer family, the club's current American owners. However, he will now be a minority owner alongside the Glazers. Ratcliffe plans to bring global knowledge and expertise from INEOS Sport to help improve the club and provide funds for future investment in Old Trafford.
The sale of the minority stake in Manchester United concludes a tumultuous year-long process that had fans hoping for a change in ownership. The Glazer family, who have controlled the club since 2005, will remain the majority owners. The deal allows them to net a significant sum, valuing the club at over $6.3 billion. By deputizing INEOS to run the soccer operations, the Glazers may be able to appease some of the criticisms from fans.
Jim Ratcliffe's purchase of the stake in Manchester United is seen as a positive development by many fans, despite their desire for a complete change in ownership. The Glazers' leveraged buyout in 2005 was met with backlash from supporters, and protests against their ownership have been ongoing. Ratcliffe's investment provides hope for the future, as he brings experience and financial commitment to the club. His interest in making United the "number one club in the world once again" and his previous attempts to buy Premier League club Chelsea demonstrate his dedication to success in football.
The sale process attracted multiple bidders, including an American investment fund and a Qatari businessman. The offers continued to rise throughout the negotiations, with Ratcliffe ultimately securing the deal with a premium price of $33 per share. The sale marks a significant moment for Manchester United, which has experienced a decline in on-field performance since the retirement of former manager Alex Ferguson in 2013. The team has not won a league title since then and has struggled to maintain consistency.
While Ratcliffe's investment does not result in a complete change in ownership, fans are hopeful that it will lead to a return to winning ways for Manchester United. The club's underperforming roster and lack of a discernible strategy have hindered its success in recent years. Ratcliffe's involvement, along with his global resources and expertise, may provide the necessary boost to help the team climb back to the top of the Premier League standings. The new era at Manchester United begins with Ratcliffe's investment and his commitment to long-term success for the club.
