Billionaire Sir Jim Ratcliffe Acquires 25% Stake in Manchester United

In a significant move for English Premier League soccer club Manchester United, billionaire Sir Jim Ratcliffe, the British petrochemical tycoon, has successfully purchased a 25% stake in the renowned football club. The acquisition was officially confirmed by both Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate.

INEOS released a statement outlining that Ratcliffe would acquire 25% of the club’s Class B shares and up to 25% of its publicly available Class A shares. As part of the deal, Ratcliffe is set to provide an additional $300 million, earmarked for future investments into the historic Old Trafford stadium. The Glazer family, the majority owners of the club, and Class A shareholders will receive the same price per share, amounting to $33.00. On the stock market, Manchester United shares closed at $19.81 on Friday.

Forbes valued Manchester United at $6 billion in May, making it the second-most valuable soccer club globally, just behind Real Madrid. The deal is still pending approval from the English Premier League.

Avram Glazer and Joel Glazer, the executive co-chairmen and directors of Manchester United, expressed their delight at the agreement with Sir Jim Ratcliffe and INEOS. They emphasized that part of the strategic review initiated in November 2022 involved exploring various alternatives to enhance the club’s overall performance and success across men’s, women’s, and Academy teams.

The sale comes after over a year of speculation about the Glazer family’s interest in accepting offers for the club. The Florida-based Glazers, who have owned Manchester United since 2005 and also own the NFL’s Tampa Bay Buccaneers, reportedly entertained multiple bids, including one from Qatari investor Sheikh Jassim bin Hamad Al Thani, who withdrew his bid in October.

Under the Glazer family’s ownership, Manchester United has faced challenges, with managerial changes and a notable absence from winning major titles in recent years. The club, which last won a UEFA Champions League title in 2008 and a Premier League title in 2013, is currently positioned eighth in the Premier League table.

Sir Jim Ratcliffe, 71, born in Failsworth, Lancashire, expressed his local ties and lifelong support for Manchester United. With a net worth of $19.1 billion, Ratcliffe, one of Britain’s wealthiest individuals, previously attempted to acquire London club Chelsea, which was eventually sold for $5.3 billion in May 2022. Ratcliffe also owns soccer clubs OGC Nice in France and FC Lausanne-Sport in Switzerland.