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:
- 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.
- Share Price: The transaction is valued at $33.00 per share.
- Additional Investment: INEOS will make a substantial additional investment of $300 million to support future enhancements to Old Trafford.
- 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.
- Board Representation: INEOS will secure two seats on both the Manchester United PLC board and the Manchester United Football Club boards.
- 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.
- 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.
- 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.
