Billionaire Jim Ratcliffe assumes management of the entity and plans an immediate investment of 300 million euros
24 dic 2023 . Updated at 6:39 p.m.
Manchester United announced this Sunday the sale of 25% of its shares to billionaire Jim Ratcliffe, owner of Ineos, the fourth largest chemical company in the world.
After this measure, Ratcliffe intends to take the reins of the club and, according to some media, plans to invest 300 million euros for different demands that the Old Trafford club requires.
Co-CEOs and Directors Avram Glazer and Joel Glazer were pleased with the agreement: We are delighted to have reached this agreement with Sir Jim Ratcliffe and Ineos. As part of the strategic review we announced in November 2022, we committed to looking at a range of alternatives to help improve Manchester United, with a focus on delivering success to our men’s, women’s and Academy teams.
Sir Jim and INEOS bring a wealth of commercial experience and a significant financial commitment to the Club. And, through INEOS Sport, Manchester United will have access to experienced high-performance professionals, with experience in creating and leading elite teams both in and out of the game. Manchester United has talented people throughout the club and our desire is to always improve at all levels to help our great fans be more successful in the future, they add.
For his part, the president of Ineos, Sir Jim Ratcliffe, is also delighted: As a local boy and lifelong fan of the club, I am very pleased that we have been able to reach an agreement with the board of directors of Manchester United that delegates responsibility to us. to manage the club’s football operations. While commercial success has ensured that there have always been funds available to win trophies at the highest level, this potential has not been fully realized in recent times. We will bring global knowledge, experience and talent from a broader scope. The Ineos Sport group will help drive further improvements at the Club, while also providing funding to enable future investment at Old Trafford.
We are here for the long haul and recognize that there are many challenges and hard work ahead of us, which we will address. With rigor, professionalism and passion. We are committed to working with everyone at the Club – board, staff, players and fans – to help drive the Club forward. “Our shared ambition is clear: we all want to see Manchester United back where we belong at the top of English, European and world football,” he adds.
Filed in: Premier League Manchester United
2023-12-24 16:40:00
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