Man United reveals Sir Jim Ratcliffe's game-changing role alongside his Investment
Man United in an official statement have confirmed the 25% shares sale to Sir Jim Ratcliffe the CEO of INEOS as well as his investment and new role at the club
Manchester United has officially confirmed the successful completion of Sir Jim Ratcliffe's minority investment, marking his entry into the Old Trafford hierarchy with a 25% shareholding, reportedly valued at £1.25bn.
Sir Jim Ratcliffe who had initially proposed a full takeover of Man United like Qatar's Sheikh Jassim will now oversee all football operations under INEOS, according to the club following his 300 million pounds investment.
The official statement released by the club stated, "Manchester United plc (NYSE: MANU) announced today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford. 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.The joint ambition is to create a world-class football operation building on the Club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy."