Jadon Sancho completed a return to Borussia Dortmund, albeit an initially temporary one, on Thursday.
24.12.2023 - 16:43 / manchestereveningnews.co.uk
Avram and Joel Glazer have said they are 'delighted' to have agreed a deal with Sir Jim Ratcliffe and INEOS to acquire 25 per cent of Manchester United.
United announced in November 2022 they were exploring 'strategic alternatives' for the club and multiple rounds of bidding between Ratcliffe and Sheikh Jassim bin Hamal Al Thani of Qatar followed.
It's understood the Glazers were always reluctant to sell their majority stake and Ratcliffe eventually prevailed in negotiations, with his bid of around £1.25 billion for 25 per cent finally being made official on Christmas Eve.
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The deal will see Ratcliffe assume control of football operations once approved by the Premier League, a process which is expected to take between six and eight weeks.
Avram Glazer and Joel Glazer said: “We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and Academy teams.
“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.
"Manchester United has talented people right across the club and our desire is to always improve at every level to help bring our great fans more success in the future.”
Ratcliffe is expected to commit $300m (£245m) from his own multimillion
Jadon Sancho completed a return to Borussia Dortmund, albeit an initially temporary one, on Thursday.
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Sir Jim Ratcliffe has finally managed to complete his minority acquisition of Manchester United, subject to the deal gaining approval.
Sir Jim Ratcliffe has vowed to return Manchester United to the top of English, European and world football after officially becoming a minority shareholder at the club.
INEOS Sport has officially announced that it has agreed to purchase a minority stake in Manchester United.