Ratcliffe completes Manchester Utd deal

British billionaire Sir Jim Ratcliffe has completed a $1.6bn deal to buy a 27.7% minority stake in Manchester United – Ratcliffe’s Ineos Group will take control of football operations at the club


DEAL

Shares: Acquisition includes 25% of United’s class B shares – largely held by Glazer family and containing almost all voting rights – and 25% class A shares

Investment: Deal includes $300m for future stadium improvements – $200m initially and further $100m by end of 2024 – elevating shares to 28.9%

Sporting control: Ineos will oversee men’s and women’s football operations and academies, and get two seats on Manchester United plc and Manchester United FC boards

First deal agreed under Premier League’s updated owners’ and directors’ test, approved March 2023


RATCLIFFE PROFILE

Manchester-born Ratcliffe is founder and majority owner of British petrochemicals empire Ineos. Estimated net worth: $21.1bn


SPORTING VENTURES

Dec 2010: Ineos become sponsor of Lausanne Ice Hockey Club

Nov 2017: Acquires Swiss football club FC Lausanne-Sport

Apr 2018: Funds Ben Ainslie’s America’s Cup bid with $153m backing – team renamed Ineos Britannia

May 2019: Buys Team Sky cycling franchise – now rebranded as Ineos Grenadiers
                                                          
Aug 2019: Purchases French football club Nice 

Dec 2020: Becomes one-third equal shareholder of Mercedes Formula 1, alongside Daimler and Toto Wolff 

2021-22: Partnerships with New Zealand Rugby and long-distance runner Eliud Kipchoge 


Sources: BBC, Man Utd 
Picture: Getty 
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