Manchester United is expected to announce next week that British petrochemicals billionaire Jim Ratcliffe will be acquiring a 25% stake in the football club, according to Sky News. The deal, worth £1.25 billion, will see Ratcliffe buying 25% of the club’s listed A-shares in a $33-a-share deal, as well as 25% of the Glazer family’s B-shares which carry greater voting rights.
It is reported that Ratcliffe will also commit around £245 million of his personal fortune to upgrade the club’s infrastructure. The news comes as a major development as the Glazer family, who have controlled the club since 2005, began exploring a sale in November 2022 due to years of underperformance on the pitch and mass protests from fans.
Manchester United, which is currently seventh in the English Premier League, is facing the possibility of exiting the European Champions League in the group stages. This represents a significant decline for the club, which has historically been the most successful in English football. However, in recent years, they have been overshadowed by crosstown rivals Manchester City, who have achieved significant success in domestic and international competitions.
Both INEOS and Manchester United have been contacted for comment on the reported deal. This move is expected to bring a new era for the club, with potential changes on and off the pitch as Ratcliffe looks to revitalize Manchester United’s performance and status in the football world.
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