Sir Jim Ratcliffe Acquires 27.7% Stake in Manchester United for £1.3 Billion

Manchester United has officially confirmed that Sir Jim Ratcliffe, CEO of petrochemicals company Ineos, has purchased a 27.7% stake in the club. The deal, worth £1.3 billion, was agreed upon with the Glazer family in exchange for control of the club's football operations. The FA and the Premier League have ratified the deal, and it has now been finalized. Ratcliffe expressed his honor and responsibility as co-owner of Manchester United, stating that this marks the beginning of their journey to bring the club back to the top of English, European, and world football. Joel Glazer, United's executive co-chairman, welcomed Ratcliffe as co-owner and expressed excitement about working together to deliver a bright future for the club. Ratcliffe and Sir Dave Brailsford, director of Ineos' sports division, have already begun overhauling United's football operations by bringing in new executives. Despite United's current standing in the Premier League, manager Erik ten Hag has stated that he is aligned with the new co-ownership. The club's first match under the new ownership will be against Fulham on February 24th at Old Trafford.