Odisha News Hour

Jim Ratcliffe has finalized his purchase of a minority share in Manchester United

<p>The affluent British businessman Sir Jim Ratcliffe has successfully acquired a minority 27.7% share in Manchester United, one of the premier football teams. This purchase, which was completed on February 20, 2024, is significant for the team since it gives Ratcliffe’s global chemicals business, INEOS, command of Manchester United’s football activities.</p>
<p><img decoding=”async” class=”alignnone wp-image-427438″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-jim-ratcliffe-has-finalized-his-purchase-of-a-minority-share-in-manchester-united-.jpg” alt=”theindiaprint.com jim ratcliffe has finalized his purchase of a minority share in manchester united” width=”1000″ height=”562″ title=”Jim Ratcliffe has finalized his purchase of a minority share in Manchester United 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-jim-ratcliffe-has-finalized-his-purchase-of-a-minority-share-in-manchester-united-.jpg 690w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-jim-ratcliffe-has-finalized-his-purchase-of-a-minority-share-in-manchester-united–390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-jim-ratcliffe-has-finalized-his-purchase-of-a-minority-share-in-manchester-united–150×84.jpg 150w” sizes=”(max-width: 1000px) 100vw, 1000px” /></p>
<p>In a statement released on Tuesday, Ratcliffe stated, “Being a co-owner of Manchester United is a great honor and comes with great responsibility.”</p>
<p>Ratcliffe, the founder, chairman, and CEO of INEOS, obtained a quarter of the club’s Class B shares and a corresponding portion of its Class A shares via Trawlers Ltd., a fully owned entity, setting the stage for this historic transaction. The Premier League and the Football Association gave their approval to this calculated maneuver last week, resulting in a transaction that is estimated to be worth £1.3 billion.</p>
<p>A £158.5 million ($200 million) first capital infusion is part of Ratcliffe’s investment plan. By December 31, he will have invested an additional £79.2 million ($100 million), bringing his shareholding to 28.9%. Ratcliffe’s commitment to bringing Manchester United back to the pinnacle of English, European, and international football is shown by this financial pledge.</p>
<p>The Glazer family launched a strategic review of the club’s ownership in November 2022, and Ratcliffe emerged triumphant in a saga that saw him and Qatari investor Sheikh Jassim as frontrunners. However, the takeover process was not without its opponents. However, Ratcliffe’s route to partial control became evident when Sheikh Jassim withdrew his offer in October of last year.</p>
<p>Joel Glazer, the co-chairman of Manchester United, welcomed Sir Jim Ratcliffe as a co-owner and expressed excitement about the team’s partnership with INEOS Sport to create a promising future. With this cooperation, the club hopes to improve its football operations and achieve unmatched success both on and off the field. It marks a new chapter in the club’s history.</p>
<p>Ratcliffe has already made major appointments, such as recruiting Omar Berrada from rival Manchester City as the new chief executive of Manchester United, in keeping with his vision for the team. This choice, which was decided after consulting with Joel and Avram Glazer, demonstrates how INEOS will continue to shape the club’s future. In addition, INEOS is vying for Newcastle sports director Dan Ashworth to head the new football department at Old Trafford. To acquire Ashworth’s services before the summer transfer market opens, this move may possibly cost more than £10 million.</p>
<p>In addition to bringing an end to a 15-month drama, Sir Jim Ratcliffe’s purchase of a minority interest in Manchester United signals the beginning of a new chapter of ambition and leadership for one of the most recognizable football teams in the world. Manchester United supporters should anticipate a rejuvenated strategy for winning big at home and abroad with Ratcliffe leading football operations.</p>