Sir Jim Ratcliffe Secures £1.3 Billion Deal, Officially Becomes Co-Owner of Manchester United

British billionaire Sir Jim Ratcliffe, a lifelong Manchester United fan, has successfully acquired a quarter share of the football club in a deal totaling £1.3 billion. The acquisition, which received approval from all necessary parties, including the FA and the Premier League, marks Ratcliffe’s ownership of 27.7% of the club. Additionally, his INEOS group has paid over £1 billion for this stake, with plans for it to rise to nearly 30% after a further injection of £238 million into the Premier League giants.

Ratcliffe, a petrochemicals billionaire, has expressed his honor at becoming a co-owner of Manchester United and emphasized the responsibility that comes with it. He sees this as the beginning of a journey to propel Manchester United back to the pinnacle of English, European, and world football, with a commitment to developing world-class facilities for the fans. The completion of this transaction indicates a shift in control of footballing operations at the club from the majority owners, the Glazers, to the new co-owners.

Expressing his enthusiasm, Ratcliffe stated, “To become co-owner of Manchester United is a great honor and comes with great responsibility. This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European, and world football, with world-class facilities for our fans. Work to achieve those objectives will accelerate from today.”

Joel Glazer, the executive co-chairman, welcomed Sir Jim as co-owner and expressed anticipation in working closely with him and INEOS Sport to deliver a bright future for Manchester United. The acquisition signifies a significant development in the club’s ownership structure and raises expectations for the club’s future trajectory under Ratcliffe’s co-ownership.