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Manchester United announces agreement with Sir Jim Ratcliffe for share acquisition

Manchester United has officially announced a groundbreaking agreement with Sir Jim Ratcliffe, Chairman of INEOS, for the acquisition of up to a 25% shareholding in the club.

The deal includes the purchase of 25% of Class B shares held by the Glazer family and an offer to acquire up to 25% of all Class A shares.

Key Points In the new agreement:

  1. Share Acquisition: INEOS, owned by Sir Jim Ratcliffe, will acquire 25% of Class B shares held by the Glazer family and has the option to purchase up to 25% of all Class A shares.
  2. Share Price: The transaction is valued at $33.00 per share.
  3. Additional Investment: INEOS will make a substantial additional investment of $300 million to support future enhancements to Old Trafford.
  4. Football Operations Management: As part of the deal, INEOS will take on the responsibility for managing the football operations of Manchester United, including oversight of men’s and women’s football operations and academies.
  5. Board Representation: INEOS will secure two seats on both the Manchester United PLC board and the Manchester United Football Club boards.
  6. Statements: The Glazer family expressed delight at the deal, emphasizing the commitment to enhancing Manchester United across all levels. Sir Jim Ratcliffe highlighted INEOS Sport’s global expertise and pledged a long-term commitment to driving the club forward.
  7. Infrastructure Investment: A $300 million fund is allocated for future investments in Old Trafford’s infrastructure, with $200 million available immediately after the deal is ratified.
  8. Long-Term Commitment: The deal signifies a long-term commitment to propelling Manchester United back to the top of English, European, and world football.

The transformative agreement represents a strategic move for Manchester United, with a vision for sustained success. It aligns with efforts to enhance the club’s football operations and invest in critical infrastructure for the future.

The deal is subject to customary regulatory approvals.

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