Manchester United will be dealt the difficult task of beating Tottenham Hotspur at Old Trafford if they are to return to winning ways in the Premier League.
24.12.2023 - 16:43 / manchestereveningnews.co.uk
Manchester United have announced Sir Jim Ratcliffe is finally set to arrive at Old Trafford following the completion of his bid to acquire a 25 per cent stake in the club.
INEOS' founder has agreed a deal to acquire a minority stake in the Reds valued at £1.25bn. The news brings to an end the long speculation surrounding the future of the club.
In November 2022, the Glazers announced a strategic review into the running of United with 'all options' remaining on the table. After a long process, Ratcliffe became the favourite to be announced in October when his rival Sheikh Jassim bin Hamad Al-Thani withdrew from the race entirely.
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While it was expected the announcement would be spared until after the Christmas period, United have chosen to announce the decision on Christmas Eve. In a statement, the club confirmed: "Manchester United plc announces today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford.
"As part of the transaction, INEOS has accepted a request by the Board to be delegated responsibility for the management of the Club’s football operations. This will include all aspects of the men's and women's football operations and Academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards.
"The joint ambition is to create a world-class football operation building on the Club’s many existing strengths, including the successful
Manchester United will be dealt the difficult task of beating Tottenham Hotspur at Old Trafford if they are to return to winning ways in the Premier League.
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