Sir Jim Ratcliffe will officially purchase 25% of Manchester United Football Club.
This is not a drill. Sir Jim Ratcliffe will officially own 25% of Man United, subject to Premier League approval.
The club have today confirmed that the Failsworth-born businessman will own a quarter of the club, buying some of the Class B shares previously owned by the Glazer family.
Sir Jim’s INEOS group will also be given control of footballing operations at the Theatre of Dreams, which will include all aspects of Men’s, Women’s and youth sides at Old Trafford.
They’ll also be £300m invested into the club on the part of INEOS and Sir Jim.
After what feels like an absolute age of long, drawn out negotiations, there is finally some positive news on this front – and it comes just one day before Christmas. No doubt many will view this as an early present.
Sir Jim Ratcliffe, a United fan through and through, will now start to have his say on the day to day running of this club – and hopefully push it back in the right direction.
Upon the news being confirmed, Sir Jim said:
“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.”
This is super exciting news, as it means the Glazer family are taking a back step, with a view to eventually selling up completely in future.
Mr Ratcliffe will no doubt need time to iron out the final details, before his INEOS group become super hands on and we start to see significant changes being made.
The Mancunian-born businessman obviously knows what he’s doing in sport and I am massively intrigued by the prospect of a local lad taking this club back to the top. It really is the stuff of dreams.
Do you think Sir Jim Ratcliffe’s purchase of the club is a step in the right direction? Let us know your thoughts in the comment box below.