This article contains affiliate links, and we will receive a commission on any sales we generate from it. Sir Jim Ratcliffe is a step closer to acquiring a 25 percent stake in Manchester United, as his purchase reportedly has been approved by the Premier League and is now on the verge of being completed. The Brit was awaiting word from the league, and the sale could be sealed within a few days.
The Telegraph claims that Ratcliffe has received approval from the Premier League, passing their directors and owners’ test. United’s filings to the US Securities and Exchange Commission on Monday night confirmed that the league has privately approved the deal. A statement from the division confirming the decision is only expected once the deal is official, likely next week.
On Christmas Eve, United released a statement confirming that a deal had been reached for the chairman of INEOS to purchase 25 percent of the Class B shares held by the Glazer family, who will retain majority ownership. Sir Jim Ratcliffe expressed his pleasure at the agreement, stating, “As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football operations of the club.” He further added that, “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 will bring the global knowledge, expertise, and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.” Ratcliffe emphasized a long-term commitment, stating, “We are here for the long term and recognize that a lot of challenges and hard work lie ahead, which we will approach with rigor, professionalism, and passion. We are committed to working with everyone at the club – the board, staff, players, and fans – to help drive the club forward.
Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European, and world football.”