British Billionaire Jim Ratcliffe Acquires Stake in Manchester United, Aims to Restore Club's Glory

Introduction

British billionaire Jim Ratcliffe has expressed his pride and sense of responsibility after finalizing his purchase of a minority stake in Manchester United. Ratcliffe's investment, which has been approved by the Premier League and English Football Association, grants him control of football operations at the club. This acquisition comes after Ratcliffe agreed to buy a 25% stake in United from the Glazer family in a deal worth approximately £1.02 billion. He has since increased his stake to 27.7% and plans to invest an additional $100 million by the end of the year.

Ambitious Goals

Ratcliffe has stated that this transaction marks the beginning of a journey to restore Manchester United's position as a top club in English, European, and world football. He aims to achieve this by developing world-class facilities for the fans and accelerating efforts to bring success back to the club.

Challenging Times

Manchester United has faced a decline in performance since the retirement of former manager Alex Ferguson in 2013. The Glazer family's ownership, which began with a leveraged takeover in 2005, has been met with criticism from supporters due to the club's mounting debt. Ratcliffe's investment and involvement are seen as a potential catalyst for change and improvement.

Key Appointments

Ratcliffe, a lifelong United fan, has already engaged with leading supporters' groups and local politicians to gather insights and support. He has appointed Omar Berrada, formerly of Manchester City, as the club's new CEO. Additionally, Ratcliffe is close to finalizing the recruitment of Dan Ashworth from Newcastle to serve as United's sporting director. These appointments are part of Ratcliffe's plan to revolutionize the club's recruitment structure.

Investment in Sports

This acquisition by Ratcliffe's INEOS is the latest addition to their portfolio of sports investments. INEOS, known for its vast profits, has funded various projects in football, cycling, Formula One, athletics, and sailing. Ratcliffe's investment in Manchester United demonstrates his commitment to the world of sports and his ambition to drive positive change within the industry.