Sir Jim Ratcliffe reveals Man Utd ambitions after agreement to invest is officially announced; Glazers also comment

Manchester United have released a statement to confirm that Sir Jim Ratcliffe has agreed to take a 25% stake in the ownership of the club.

The Man Utd takeover saga has been rumbling on for over a year. For several months, Ratcliffe has stood out as the likely investor. Now, the club have confirmed an agreement for him to acquire a 25% stake.

As expected, it will include his INEOS group taking charge of the football side of operations at the club.

The statement reveals Ratcliffe will acquire 25% of Class B shares and up to 25% of Class A shares too.

Britain’s richest man will invest $300m (£237m) on top of that with a view to investing in the future of the Old Trafford stadium.

Ratcliffe told the club’s official website: “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 recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, 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.”

Glazers explain what Ratcliffe and INEOS will bring

Ratcliffe’s investment, which is subject to Premier League approval, brings new influence into the club after the lengthy tenure of the Glazer family.

Avram and Joel Glazer still retain their involvement in the boardroom, adding in their own statement: “We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS.

“As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and Academy teams.

“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.

“Manchester United has talented people right across the Club and our desire is to always improve at every level to help bring our great fans more success in the future.”

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