“We all want to see Manchester United back where we belong" - Sir Jim Ratcliffe speaks out after acquiring minority stake at Man United
It was announced earlier today (Sunday, 24 December) that Sir Jim Ratcliffe has purchased a minority stake in Manchester United. The British billionaire, Chairman of INEOS, acquired 25% of the club's Class A and Class B shares.
As part of the agreement, Sir Ratcliffe will take control of the club's football operations - including the men's, women's, and academy teams.
Transfer expert Fabrizio Romano wrote on X (formerly Twitter):
"OFFICIAL: Manchester United plc announces today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United's Class B shares and up to 25 per cent of Manchester United's Class A shares."
Sir Ratcliffe has now issued a public statement regarding his new stake in the club. The Englishman offered a confident affirmation that the Red Devils will return to the dominance and stature they had under legendary manager Sir Alex Ferguson in English and European football.
He said (via United's official website):
“Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times."
"We are here for the long term and recognise that a lot of challenges and hard works lies ahead, which we will approach with rigour, professionalism & passion … we all want to see #MUFC back where we belong at the very top of English, European & world football”
The Red Devils will face Aston Villa at Old Trafford on Boxing Day.
"The timing of this is truly awful" - Manchester United legend Gary Neville reacts to recent announcement
United legend Gary Neville has expressed his disapproval of the timing of Sir Ratcliffe's minority stake acquisition in the club. The pundit labeled the club's year as a disgrace.
The Red Devils are currently eighth in the Premier League table amid poor form under Erik ten Hag this season. United have recorded nine wins, one draw, and eight losses in 18 league encounters so far.
They were also eliminated from European competition after finishing dead last in their Champions League group. They won only one game in the group stages.
Neville believes that a major change at the top of the club's hierarchy must not be undertaken under such circumstances. He wrote on X:
"Manchester United 2023 has been a disgrace to the end. The timing of this is truly awful and no functioning organisation would even think about it. Anyway all the very best to Jim Radcliffe and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch."