Jim Ratcliffe has received approval from the Football Association and the Premier League to buy a 25% stake in Manchester United. The deal, valued at around $1.3 billion (£1.03 billion), gives Ratcliffe’s Ineos Group control over the club’s football operations, while the Glazer family will keep the majority stake. The sale is awaiting completion after the share offer closes on Friday night in the United States, with Premier League approval pending the finalization of the deal.
The Premier League is now waiting for confirmation of the completion of the transaction and has confirmed that Ratcliffe, 71, has signed its owners’ charter. This marks the first deal under the Premier League’s updated owners’ and directors’ test, approved by member clubs in March 2023, including a review by an independent oversight panel.
Ratcliffe’s deal, agreed upon on Christmas Eve, also includes an additional $300 million (£236 million) for future investments in Old Trafford Stadium. The businessman is set to buy 25% of the club’s class B shares, mostly held by the Glazer family, who own 69% of the club and control almost all voting rights. Ratcliffe will also purchase up to 25% of class A shares listed on the New York Stock Exchange, each valued at $33. Holders of class A shares have until Friday at 23:59 EST to tender them for sale, with an extension granted.
With the acquisition of sporting control, Ineos will oversee the men’s and women’s football operations and academies, and secure two seats on both the Manchester United PLC and Manchester United Football Club boards. Ratcliffe, who has visited Old Trafford and the club’s training ground multiple times, is waiting for the final approval of the deal, which is progressing positively. The Glazer family acquired Manchester United for £790 million in 2005 and expressed their intention to explore strategic alternatives in November 2022.