Jammu and Kashmir News Report

Manchester United and Jim Ratcliffe have agreed to sell 25% of the club’s stakes for GBP 1.25 billion

<p>It was revealed on Sunday that INEOS chairman Jim Ratcliffe has reached an agreement to acquire a quarter of Manchester United for around £1.25 billion ($1.6 billion) and would assume leadership of the Premier League team’s football operations. Additionally, the 71-year-old British millionaire will provide $300 million for further improvements to the team’s Old Trafford stadium.</p>
<p><img decoding=”async” class=”alignnone size-medium wp-image-321742″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-manchester-united-and-jim-ratcliffe-have-agreed-to-sell-25-of-the-clubs-stakes-for-750×394.jpg” alt=”theindiaprint.com manchester united and jim ratcliffe have agreed to sell 25 of the clubs stakes for” width=”750″ height=”394″ title=”Manchester United and Jim Ratcliffe have agreed to sell 25% of the club's stakes for GBP 1.25 billion 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-manchester-united-and-jim-ratcliffe-have-agreed-to-sell-25-of-the-clubs-stakes-for-750×394.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-manchester-united-and-jim-ratcliffe-have-agreed-to-sell-25-of-the-clubs-stakes-for-1024×538.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-manchester-united-and-jim-ratcliffe-have-agreed-to-sell-25-of-the-clubs-stakes-for-768×403.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-manchester-united-and-jim-ratcliffe-have-agreed-to-sell-25-of-the-clubs-stakes-for-150×79.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-manchester-united-and-jim-ratcliffe-have-agreed-to-sell-25-of-the-clubs-stakes-for.jpg 1200w” sizes=”(max-width: 750px) 100vw, 750px” /></p>
<p>“Manchester United announces that it has entered into an agreement under which Sir Jim Ratcliffe, chairman of INEOS, will acquire up to 25 percent of the club’s Class A shares and 25 percent of its Class B shares, as well as provide an additional $300 million to enable future investment into Old Trafford,” read a statement from the club.</p>
<p>“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.”</p>
<p>Ratcliffe said that he was dedicated to the long run and wants to see the struggling United back at the top of European football.</p>
<p>“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,” he said.</p>
<p>“Although the club’s financial prosperity has guaranteed that money has always been available to win championships at the top level, this potential hasn’t been completely realized recently.</p>
<p>“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club.”</p>
<p>The deal signals the start of a new chapter for the struggling Premier League team and puts an end to more than a year of rumors over ownership.</p>
<p>The Glazers, the club’s unpopular owners who paid £790 million for it in 2005, started a drawn-out process in November 2022 when they said they were thinking at “strategic alternatives” to assist United expand.</p>
<p>Rival bids for a full buyout, in the neighborhood of £5 billion, were made by Ratcliffe and Qatari financier Sheikh Jassim bin Hamad Al Thani, but they were not sufficient to match the Glazers’ value.</p>
<p>Sheikh Jassim pulled out of the process, but Ratcliffe persisted in trying to acquire a minority stake.</p>
<p>Since 2013, which was Alex Ferguson’s last season as manager, United has not won the Premier League.</p>
<p>They are now 12 points behind leaders Arsenal in the Premier League and are in eighth place. They have also lost in both the League Cup and the Champions League.</p>
<p>After United’s League Cup victory last season did not result in a repeat of United’s six-year trophy drought, manager Erik Ten Hag’s job is expected to come under intense criticism.</p>
<p>Ratcliffe’s family is heavily involved in sports; they own the INEOS Grenadiers cycling team, Nice, a team in French Ligue 1 and Lausanne-Sport, a team in Switzerland.</p>

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