Jim Ratcliffe, 71, has agreed to buy a 25% stake in Manchester United for approximately $1.3 billion (£1.03 billion). Based in Old Trafford, Greater Manchester, England, United Kingdom, the football club competes in the Premier League.
Ratcliffe was born in Failsworth, Lancashire, Greater Manchester. In 1998, he founded INEOS, a petrochemicals company is based in London, England.
In May 2023, Forbes valued Manchester United at $6 billion. On December 22, 2023, shares of the club closed at $19.81.
On December 24, 2023, INEOS and Manchester United confirmed that Racliffe acquired 25% of the club’s Class B shares and up to 25% of its publicly available Class A shares. He will also provide an additional $300 million intended to enable future investment into the club’s stadium in Old Trafford.
The Premier League has yet to approve the deal. Upon approval, INEOS will take control of the club’s football operations.
Siblings Avram A. Glazer, 63, and Joel Glazer, 56, who were both born in Rochester, New York, United States, are the co-chairmen of the club. In 2005, their family bought the club for $1 billion (£790 million).
In November 2022, the Glazers announced that they were considering the sale of the club to explore strategic alternatives. In October 2023, Sheikh Jassim bin Hamad Al Thani, 45, of Qatar withdrew his offer to buy 100% of the club
Haaksbergen, Netherlands native Erik ten Hag, 53, has been the manager of the club since April 21, 2022. André Onana, 27, of Cameroon and Amad Diallo, 21, of Ivory Coast are among the African footballers currently playing for the club.
CONAN Daily 