Sir Jim Ratcliffe’s acquisition of a significant stake in Manchester United was confirmed on Tuesday night.
It’s been well over a year since the Glazers announced their intention to explore strategic alternatives for the club, including the possibility of a full sale.
It became apparent last year that a full sale was not going to happen despite interest from two parties in Ratcliffe and the Qatari Sheikh Jassim.
Sheikh Jassim dropped out of the race several months ago but Ratcliffe remained open to a minority shareholding on the condition that he was handed full sporting control of the club.
United’s statement estimated Ratcliffe’s ownership at 27.7 per cent of shares, and in an initial brief statement he laid out his targets.
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Ratcliffe listed three on-field targets – for United to return to dominance domestically, in Europe and in world football – and also vowed to improve facilities for fans amid the need for a drastic renovation of Old Trafford or a new stadium entirely.
Manchester United is pleased to confirm that Sir Jim Ratcliffe has completed his 27.7% acquisition of the club, following approval of all conditions, including the FA and the Premier League.#MUFC
— Manchester United (@ManUtd) February 20, 2024
Ratcliffe said: “To become co-owner of Manchester United is a great honour and comes with great responsibility. This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans. Work to achieve those objectives will accelerate from today.”
Joel Glazer said: “I would like to welcome Sir Jim as co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United.”