BREAKING: Sir Jim Ratcliffe becomes minority stakeholder at Manchester United
British billionaire Sir Jim Ratcliffe has secured a minority stake in Manchester United Football Club.
Ratcliffe, the chairman of INEOS, has agreed to acquire 25 percent of the club's Class B shares and an equivalent percentage of Class A shares. The transaction, valued at approximately $1.3 billion, is set to signal a new era in the club's history.
Ratcliffe's investment in Manchester United is not just financial. It is believed to extend to operational control, particularly in football operations. This move is seen as an effort to revive the club's fortunes, especially given their recent struggles on the field.
Manchester United have not clinched the Premier League title since 2013. The team's performance issues have fueled discontent among fans, leading to regular protests against the Glazers - the owners of the renowned club.
Ratcliffe's entry is widely expected to usher in a wave of change, much to the relief of the club's global fanbase.
Alongside the acquisition, Ratcliffe is set to infuse an additional $300 million into the club, according to BBC. This investment is earmarked for the future development of the Old Trafford stadium.
The announcement comes over a year after the Glazers expressed their openness to selling the club and exploring strategic alternatives. The development also follows the withdrawal of Sheikh Jassim bin Hamad Al Thani's bid to acquire the entire club last October.
The Qatari banker was notably the only other publicly declared bidder seeking to purchase Manchester United.
Manchester United transfer policy to focus on sales over signings this winter
As the January transfer window approaches, Manchester United find themselves focusing more on player sales than acquisitions. Despite the apparent need for squad enhancements, their substantial spending in the summer will require a more conservative approach this winter.
Now entering new management under Ratcliffe, the Red Devils do not wish to run afoul of Financial Fair Play rules. According to Manchester Evening News, this has seen the club's strategy revolve around offloading players rather than making significant signings.
United have reportedly signaled openness to offers for up to eight players, indicating a shift in the squad's composition. Among those, Amad Diallo might find an opportunity for growth through a loan spell.
Additionally, Donny Van de Beek is poised for a loan departure to German club Frankfurt, a move that includes an option to buy for £12.5 million.
The list of potential departures also includes high-profile names like Raphael Varane, Casemiro, Anthony Martial, and Jadon Sancho. Varane, despite being a key defender, is in the last six months of his contract, making his future uncertain.