Billionaire Jim Ratcliffe confirms successful purchase of 25% of Man Utd shares

Last night (December 24), the homepage of Man Utd Club officially announced that billionaire Jim Ratcliffe and INEOS successfully purchased 25% of the shares of the Old Trafford team.

Tỷ phú Jim Ratcliffe chốt mua thành công 25% cổ phần Man Utd

Billionaire Jim Ratcliffe closes deal to buy 25% stake in Man Utd. (Source: Sky Sports)

"Today, Manchester United PLC (NYSE: MANU) has entered into an agreement under which INEOS Chairman Jim Ratcliffe will acquire a 25% stake in Manchester United for $33 per share and provide an additional $300 million to support future investment at Old Trafford," Man Utd said in a statement.

As part of the transaction, the Man Utd Board has agreed for INEOS to assume responsibility for the club's football operations.

Billionaire Jim Ratcliffe will also manage all activities of the men's and women's football academies, and have two seats on the board of Manchester United PLC and the board of Man Utd football club.

The shared ambition of both parties is to create a world-class football operation that builds on the many existing strengths of Man Utd, including the off-field success the club continues to achieve.

Co-Chairmen and Directors Avram Glazer and Joel Glazer said: “We are delighted to have agreed this agreement with Sir Jim Ratcliffe and INEOS.

As part of the strategic review we announced in November 2022, we are committed to looking at a range of options to help strengthen Manchester United, focusing on delivering success for our men's, women's and Academy teams."

“Sir Jim and INEOS have a wealth of commercial experience as well as a significant financial commitment to the club. Through INEOS Sport, Man Utd will have access to highly accomplished professionals with a wealth of experience in creating and leading elite teams.

Man Utd have talented people and our desire is to always improve at every level to bring the fans more success in the future."

INEOS Chairman Jim Ratcliffe, said: “As a local and lifelong fan of the club, I am delighted that we have agreed an agreement with the Manchester United Board, giving us responsibility for managing the club’s football operations.

Although the club's commercial success has ensured that funds are available to win trophies at the highest level, this potential has not been fully exploited in recent times.

INEOS Sport will drive further improvements at the club, while also providing funding to support future investment at Old Trafford."

“We are here for the long haul and recognise that there are many challenges and hard work ahead, we will approach everything seriously, professionally and passionately.

We are committed to working with everyone at the club - the board, staff, players and fans - to help take the club forward."

"Our shared ambition is clear: we all want to see Manchester United return to where we belong, at the pinnacle of English, European and world football."

The stock transaction is subject to customary regulatory approvals and both parties hope to complete it as soon as possible.

( according to Dan Tri )

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