Jim Ratcliffe takes control of Manchester United Football Club Manchester United / Revealed
Manchester United announced, on Sunday, 24th of this month, the sale of 25% of the club to billionaire Jim Ratcliffe. The Englishman, owner of the petrochemical company Ineos and the richest man in the United Kingdom, bought the shares for 1.25 billion pounds sterling, or about 7.7 billion Brazilian reals.
With this investment, he will have full control of the Red Devils' football department. According to the statement issued, there will still be an investment of R$1.4 billion for renovations at Old Trafford.
The Glazer family, which has been criticized by a large portion of the public, remains the major shareholder in Manchester United, but is losing ground within football. The team was eliminated from the group stage of the Champions League and is ranked eighth in the English Premier League.
“As a local Manchester boy and a long-standing supporter of the club, I am delighted that we have reached this agreement with the management of Manchester United, who have delegated to us the responsibility of running football at the club. Despite commercial success always ensuring we have the necessary funds,” Sir Jim Ratcliffe said. “To win titles at the highest levels, but this potential has not been achieved recently.”
The deal still must receive approval from the Premier League and other UK regulatory bodies.
With information from CNN Brazil
Amelia Kensington is a contributor to Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, presenting complex topics in an accessible and engaging way while maintaining a strong commitment to accuracy and relevance.