Billionaire Jim Ratcliffe confirms successful purchase of 25% of Man Utd shares

Last night (December 24), the Man Utd club's homepage officially announced that billionaire Jim Ratcliffe and INEOS successfully purchased 25% of the shares of the Old Trafford team.

Billionaire Jim Ratcliffe closes deal to buy 25% of Man Utd shares. (Source: Sky Sports)

A Man Utd statement said: "Today, Manchester United PLC (NYSE: MANU) signed an agreement under which INEOS Chairman Jim Ratcliffe will acquire a 25% stake in Man Utd for $33 per share and provide an additional $300 million to support future investment at Old Trafford."

As part of the transaction, the Man Utd Board has approved INEOS to take over responsibility for the club's football operations.

Billionaire Jim Ratcliffe will also manage all activities of the men's and women's football academies, and have two seats on the board of Manchester United PLC and the board of Man Utd football club.

The shared ambition of both parties is to create a world- class football operation that builds on many of Man Utd's existing strengths, including the off-field success the club continues to achieve.

Co-Executive Chairman and Director Avram Glazer and Joel Glazer said: "We are delighted to have agreed this agreement with Sir Jim Ratcliffe and INEOS.

As part of the strategic review we announced in November 2022, we are committed to looking at a range of alternatives to help strengthen Man Utd, focusing on delivering success for our men's, women's and Academy teams."

"Sir Jim and INEOS have a wealth of commercial experience as well as a significant financial commitment to the club. Through INEOS Sport, Man Utd will have access to highly accomplished professionals with a wealth of experience in creating and leading elite teams.

Man Utd have talented people and our desire is to always improve at every level to bring the fans more success in the future."

INEOS Chairman Jim Ratcliffe said: "As a local and long-time fan of the club, I am delighted that we have agreed an agreement with the Man Utd Board, giving us responsibility for managing the club's football operations.

Although the club's commercial success has ensured that funds are available to win trophies at the highest level, this potential has not been fully exploited in recent times.

INEOS Sport will drive further improvements at the club, while also providing funding to support future investment at Old Trafford."

“We are here for the long haul and recognise that there are many challenges and hard work ahead, we will approach everything seriously, professionally and passionately.

We are committed to working with everyone at the club - the board, staff, players and fans - to help take the club forward."

"Our shared ambition is clear: we all want to see Manchester United back where we belong, at the pinnacle of English, European and world football."

The stock transaction is subject to customary regulatory approvals and both parties hope to complete it as soon as possible.

( according to Dan Tri )

Source: https://baoquocte.vn/ty-phu-jim-ratcliffe-chot-se-mua-thanh-cong-25-co-phan-man-utd-255130.html