Buys into 25 percent stake in club after Glazier deal

The Manchester United ownership saga has finally reached a major milestone, with the Ineos founder and chief executive officer Sir Jim Ratcliffe completing the purchase of a 25 per cent stake in the club. Ratcliffe, alongside Ineos sporting director Sir Dave Brailsford, will reportedly take control of footballing matters at the club, while the Glazers retain their majority control, James Hilsum reports for Eurosport.

Sir Jim Ratcliffe has completed a deal worth £1.3 billion with the Glazer family to acquire a 25 per cent stake in Manchester United.

Ratcliffe, the CEO of petrochemicals company Ineos, was officially unveiled as a minority owner at United, bringing an end to the protracted 13-month saga which began last November when the Glazers announced they would be willing to listen to offers for one of the biggest clubs in the world.

The deal will see Ratcliffe and Sir Dave Brailsford assume control of football operations in what is another major development in the overhaul of the senior hierarchy at Old Trafford, following news of Richard Arnold’s resignation as chief executive on November 15.

Ratcliffe expressed an interest in investing in United back in January and faced competition from Qatari businessman Sheikh Jassim bin Hamad al Thani, who had a bid reported to be worth around £5bn to buy the club outright rejected before withdrawing from the process.

That left the path clear for Ratcliffe, one of the UK’s richest men and a boyhood United fan, to negotiate a deal that would allow him and Brailsford to take charge of football matters while leaving the Glazers with a majority stake.

In statement on the club’s website, Ratcliffe, said: “As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club. Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.

“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford.

“We are here for the long term and recognize that a lot of challenges and hard work lie ahead, which we will approach with rigors, professionalism and passion. We are committed to working with everyone at the Club – the Board, staff, players and fans – to help drive the Club forward.

“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”

The deal is subject to approval..

Ratcliffe and Ineos’ portfolio includes investments in other sporting organizations, so it is expected he will bring what he’s learnt to Old Trafford in a bid to turn the club’s fortunes around.

The 71-year-old owns French side Nice and holds a 33% stake in the Mercedes Formula 1 operation.

He also bought over the cycling outfit formerly known as Team Sky in 2019, renaming it Ineos Grenadiers. Brailsford joined Team Sky from its inception in 2010 and was instrumental in its success, with his ‘marginal gains’ approach helping the likes of Bradley Wiggins and Chris Froome win the Tour de France.

Brailsford retained his position as team principal during the takeover and was appointed director of sport at Ineos in 2021.

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