Officially: British Billionaire Jim Ratcliffe Acquires 25% Stake in Manchester United

Major changes await the English soccer giant, and the name of the new sports director should be confirmed today

by Sededin Dedovic
Officially: British Billionaire Jim Ratcliffe Acquires 25% Stake in Manchester United
© Christopher Furlong / Getty Images

British billionaire Jim Ratcliffe secured a substantial 25 percent stake in the English club for a staggering £1.25 billion(1.65 billion dollars), as reported by the BBC. The deal also sees Ratcliffe taking responsibility for the club's soccer affairs, marking a significant change in its management structure.

The announcement comes on the heels of the Glazer family, owners of Manchester United since their £790m acquisition in 2005, expressing their intention to explore "strategic alternatives" by potentially selling the club.

The Ratcliffe deal materialized after 13 months of consideration, signaling a new era for the Old Trafford outfit. In addition to the ownership stake, Ratcliffe will invest a significant $300m (£236m) in Manchester United, further underscoring his commitment to the club's success.

Fans are eagerly anticipating the impact of this acquisition in one of England's most famous soccer institutions. "Although the club's commercial success has ensured that there are always funds available to win trophies at the highest level, that potential has not been fully realized in recent times.

We will bring knowledge, expertise and talent from the wider Ineos sport group to help the club's progress, while providing funds in investing in "Old Trafford" - it is emphasized in the statement of Jim Ratcliffe, who is a big fan of Manchester United.

Ratcliffe stated that he had agreed with his associates to be at the club for the long term. "We know there are many challenges and hard work ahead of us, which we will approach rigorously, with professionalism and passion.

We are committed to working with everyone at the club, management, employees, players and fans to help the club progress. Our shared ambition is clear, everyone we want Manchester United to return to where it belongs, at the very top of English, European and world soccer," Ratcliffe said.

Manchester United announced that the agreement to sell a 25% stake to British billionaire Jim Ratcliffe is subject to standard regulatory approvals, with hopes for a swift completion. The club, currently eighth in the Premier League, 12 points behind leaders Arsenal, anticipates significant changes with the expected ownership transition.

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