It had been on the cards for some time, but now the deal is done: English billionaire Sir Jim Ratcliffe has joined Manchester United as an investor
The English record champions announced Ratcliffe’s investment on Christmas Eve, with him taking up to 25 percent of the shares and thus also responsibility for the sporting side. As reported by the BBC, Ratcliffe is to pay just over 1.4 billion US dollars (around 1.18 billion euros) for the stake.
The 71-year-old, head of the chemical company Ineos, will also invest a further 300 million US dollars (around 275 million euros) in the Old Trafford stadium. The deal means that the Glazer family from the USA, who are downright hated by some Red Devils fans, will relinquish some of their control but remain the majority shareholder.
Expansion of shares not ruled out
The possibility of Ratcliffe buying further shares in Man United in the future is not ruled out. In this case, a possible complete sale of Nice is on the table, for which Rafcliffe is apparently demanding 90 million euros. Ineos owns 100 percent of the shares in OGC, and the chemicals group is also involved in the Swiss club FC Lausanne-Sport. Ratcliffe and his company are also active in cycling (Ineos Grenadiers) and sailing.
In the poker game for Man United’s shares, a consortium from Qatar led by Sheikh Jassim Bin Hamad Al Thani initially positioned itself, but then withdrew its multi-billion purchase offer for the entire takeover of the shares in mid-October. More than a year after the Glazers officially announced their intention to sell the club, only Ratcliffe and Ineos remained as investors.
“As a local lad and lifelong supporter of the club, I’m delighted with the deal,” said Ratcliffe, who hails from Failsworth in the Manchester area: “There are a lot of challenges and hard work ahead.”
What Ratcliffe means by that is obvious. The Red Devils are running behind the music this season and are eighth in the Premier League with 28 points. They are already eight points behind fourth-placed Tottenham in the Champions League. This season, coach Erik ten Hag’s team has already been eliminated from the top flight after the group stage.
