SIR JIM RATCLIFFE’S £1.3bn takeover of Manchester United has FINALLY been announced.
The British billionaire has purchased a £1.3billion stake in the Red Devils from the Glazer family.
Ratcliffe’s Ineos group will control the footballing operations, and he has already promised huge investment for Old Trafford.
Follow ALL of the latest updates below…
Supporters Trust Sceptical
Manchester United’s Supporters Trust have issued a statement on Sir Jim Ratcliffe’s acquisition of shares in the club, which they have reacted to with scepticism.
It read: “During 18 years of debt, decay and mismanagement, Manchester United fans have loudly and consistently called for change at our Club.
“When the so-called Strategic Review was announced nearly a year ago, it finally appeared that the sale of the club was on the horizon, potentially bringing the new investment and new direction MUFC so clearly needs.
“Against that backdrop, fans have very mixed feelings today. We welcome the investment from a boyhood red, Sir Jim Ratcliffe and his INEOS company, but many will wish his ownership stake was greater than the initially rumoured 25%.
“We note the statements that he and his team will control sporting activities, yet puzzle how any organisation can put its very core business in the hands of a minority shareholder, and how that meaningfully works in practice.
“It is now incumbent on the Club’s owners and management to properly explain how this new structure will work, where the new investment will be directed and how it will benefit the team on the field.
“As the Supporters Trust, we expect to have discussions with the Club management and the INEOS team in the near future to understand their plans, and to put to them the very many questions fans have today.
“Today might – just might – be a step forward for Manchester United after some very difficult years.
“But with the Glazers still in charge, people should understand that United fans will remain sceptical and wait for the proof in the pudding.”
Credit: Alamy Osimhen hope
Victor Osimhen’s agent has refused to rule out a summer exit for his client, who has been linked with a move to Old Trafford.
Roberto Calenda said: “Look, last summer many offers arrived, even monstrous ones.
“But De Laurentiis wanted to keep Victor, and we made ourselves available.
“If there had been the desire to leave, we would have said so. And instead, we worked, and a lot, only upon renewal.
“And next summer, it will be the same: we will talk to De Laurentiis and see together what to do.”
Glazers in the money
The Glazer family are reportedly pocketing close to a three-quarters of a BILLION pounds for the sale of their B shares.
The American magnates officially offloaded 25 per cent of their shares to Britain’s richest man this week.
And figures from the sale have revealed the fan-loathed family have banked £717,131,000 for parting ways with the shares.
Ratcliffe’s decision on Ten Hag
Sir Jim Ratcliffe has reportedly made a decision on Erik ten Hag’s future at the club.
The Dutchman’s future at Old Trafford is on a knife-edge due to a string of poor results this season.
It’s understood Ratcliffe is contemplating axing the former Ajax man if results don’t improve.
But Give Me Sport claims Britain’s richest man won’t make a decision on Ten Hag’s future until the end of the season.
Untrustworthy stars
Gary Neville has singled out has claimed Manchester United stars can’t be trusted to perform consistently.
He said on his Sky Sports podcast: “It doesn’t surprise me.
“I didn’t get carried away when they played against Liverpool because I thought Liverpool were below par.
“United were relatively poor in possession.
“But they showed resilience and you always have to respect a draw at Anfield.
“Now, what we see from this team, and I don’t just mean under his manager, is pretty much the same. You can’t trust them.
“They will let you down when they give you a glimmer of hope that they might be on track, they go lose a game they shouldn’t.
“They have Aston Villa on Boxing Day but could lose against NottinghamForest four days later.”
Ratcliffe’s message
In case you missed it, Sir Jim Ratcliffe has issued a heartfelt message to Manchester United fans following his acquisition of 25 per cent of the club.
He said: “Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.
“As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the club.
“Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion”.
“We are committed to working with everyone at the Club – the Board, staff, players and fans – to help drive the Club forward”.
Credit: PA Neville slams club
Gary Neville has ripped into Manchester following the news of Sir Jim Ratcliffe’s acquisition of shares.
He tweeted: “Manchester United 2023 has been a disgrace to the end.
The timing of this is truly awful and no functioning organisation would even think about it.
“Anyway, all the very best to Jim Ratcliffe and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch.”
Sir Jim Ratcliffe’s changes
Sir Jim Ratcliffe is planning some changes following his 25 per cent takeover of Manchester United.
Ratcliffe has been previously linked with Paul Mitchell, whom he wanted to take over as sporting director at United.
CEO of INEOS Sport Jean Claude Blanc is under consideration to become chief executive and cycling legend Dave Brailsford will also have a key role at United.
According to Sky Sports, manager Erik ten Hag is not under immediate threat but results must improve quickly.
Fan reaction
The Old Trafford faithful were rejoicing the news of Sir Jim Ratcliffe’s acquisition of shares in the the club.
One Man Utd fan said: “A new era, let’s hope the future brings better days!”
Another said: “We are winning Treble next season!”
And another chimed in: “Christmas has come early! WHAT A TIME TO BE ALIVE!”
One remarked: “Finally! We move… I see a bright future now.”
Another joked: “This is the best statement of statements in history of statements.”
What’s next for Man Utd?
Manchester United need the Premier League to approve Sir Jim Ratcliffe’s takeover.
Ratcliffe is taking over 25 per cent of United following a £1.2billion deal.
The deal is now expected to be finalised by the Premier League next.
This process is expected to take between six and eight weeks.
Credit: Reuters What Ratcliffe’s takeover means
Sir Jim Ratcliffe purchased 25 per cent of Manchester United for around £1.2billion.
This deal gives Ratcliffe control of football operations and a say in the commercial side controlled by the Glazers.
Sir Jim will be in charge of the men’s and women’s team along with the academy.
Following the acquisition, United are not expected to be very busy in the January transfer window.
All about Sir Jim Ratcliffe
Sir Jim Ratcliffe’s 25 per cent takeover of Manchester United has been completed.
Ratcliffe has splashed about £1.25billion to acquire that stake from United.
The INEOS chairman is Britain’s richest man and worth a whopping £15billion.
The 71-year-old is a lifelong Red Devils fan and previously tried to take over Chelsea. last year.
Sir Jim Ratcliffe statement
Sir Jim Ratcliffe, a lifelong Manchester United supporter, is determined to bring the club back to the top of the world.
As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club.
Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford.
We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the Club – the 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 very top of English, European and world football.
Sir Jim Ratcliffe
Glazers speak out
Manchester United executive Co-Chairmen and Directors Avram Glazer and Joel Glazer welcomed Sir Jim Ratcliffe.
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.
The Glazers
Credit: AFP Man Utd statement
Manchester United issued the following statement after Sir Jim Ratcliffe’s 25 per cent takeover:
Manchester United plc announced today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford.
As part of the transaction, INEOS has accepted a request by the Board to be delegated responsibility for the management of the Club’s football operations. This will include all aspects of the men’s and women’s football operations and Academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards.
The joint ambition is to create a world-class football operation building on the Club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy.
Manchester United
Detailed Sir Jim deal
Here’s what the deal between Sir Jim Ratcliffe and Manchester United involves:
- Acquisition of 25 per cent of the Class B shares held by the Glazer family
- Offer to acquire up to 25 per cent of all Class A shares
- The Glazer family and Class A shareholders will receive the same price of $33 (£26) per share
- Further investment of $300million (£236m) in the Club
- INEOS delegated responsibility for management of football operations
- Completion of this deal is subject to receiving all necessary regulatory approvals including from the Premier League
Sir Jim Ratcliffe takeover confirmed
Sir Jim Ratcliffe has finally completed his 25 per cent takeover of Manchester United.
Ratcliffe has completed a deal worth about £1.25billion with the Glazers.
Sir Jim is now expected to be in charge of football operations at Old Trafford.
This poses as the dawn of a new era for the Red Devils!
Source: Soccer - thesun.co.uk
