Ratcliffe will take charge of the footballing operations
Sir Jim Ratcliffe has officially completed the purchase of his minority stake in Manchester United.
The acquisition brings the lengthy saga to an end after the Glazer family first put the club up for sale 19 months ago.
Despite fans demanding a full sale, Ratcliffe purchased a 27.7 per cent stake through his billionaire business INEOS and will take charge of the footballing operations at the club.
‘This is the beginning’
Upon completing the purchase, Ratcliffe released a statement via the club’s website, saying: “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, Executive Co-Chairman, added: “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.”
Ratcliffe already making moves to improve the club
United have been in steep decline for a long while now and look set to go an 11th consecutive season without adding a Premier League title to the 20 they already own.
But the arrival of Ratcliffe has sparked fresh hope and optimism, with the billionaire already making steps to improve the footballing side of the club.
Last month he successfully poached Omar Berrada from neighbours Manchester City to become the new chief executive officer and is also reportedly in the process of trying to recruit Dan Ashworth from Newcastle United.
Ashworth has been placed on gardening leave by the Magpies, who are allegedly wanting a compensation fee of £20m to allow him to make the move to Old Trafford after he expressed his desire to leave Newcastle.
Related links:
- Newcastle place Dan Ashworth on gardening leave ahead of Man United move
- Sir Jim Ratcliffe receives Premier League approval to buy £1.3bn stake in Man United
- Man United to introduce new rule to clear out dead wood
