Premier League giants Manchester United confirmed the sale of a 25 percent stake to British billionaire and chairman of INEOS, Sir Jim Ratcliffe. The chairman of one of the largest chemical producers in the world became a minority stakeholder of the football club at a price of $33 per share. Jim Ratcliffe will provide an additional USD 300 million to enable future investments at Old Trafford, the club said.

As part of the transaction, INEOS has accepted a request by the Board to be delegated responsibility for the management of the Club’s football operations. This will include all aspects of the men’s and women’s football operations and Academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards, Manchester United said in a statement.

Notably, Ratcliffe becoming a minority shareholder comes after Qatar’s Sheikh Jassim bin Hamad al Thani, who was also keen on buying the club, dropped out of the bidding process, saying he would not be raising his USD 6 billion offer, according to Reuters news agency.

The share distribution between Ratcliffe and the Glazer family, which has been at the helm of the club since 2005, was meticulously structured. Ratcliffe purchased 25% of United’s Class A shares listed on the New York Stock Exchange and an equal percentage of the Glazers’ Class B shares, which carry greater voting rights. Despite this acquisition, the Glazers remain in overall charge of the club, maintaining a significant portion of the equity.

All eyes will be on Jim Ratcliffe, one of the richest men in the UK, as he would be expected to take crucial calls, including one involving the future of Erik Ten Hag. The Dutch tactician has struggled to live up to expectations and the ongoing season has seen United exit the Champions League in the group stage. Manchester United are 8th in the league table with 28 points in 18 matches with their latest result being a 0-2 defeat at West Ham United.

‘LIFE LONG SUPPORTER’ RATCLIFFE THRILLED

After becoming a minority shareholder of Manchester United, Jim Ratcliffe conceded that the side has not been able to unlock its full potential in the recent past. United have not won a league title since the 2012-13 season. After Sir Alex Ferguson left, none of the new managers, including Jose Mourinho and Louis van Gaal, have found consistent success.

“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 for 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,” he added.

This strategic partnership has been met with cautious optimism by fans and stakeholders alike. While some supporters are wary of the Glazers’ continued involvement, others are hopeful that Ratcliffe’s influence and financial commitment will usher in a new era of success for Manchester United. His track record with INEOS, known for its commercial acumen and experience in high-performance sports, suggests that he could bring much-needed expertise to the club’s operations.