Ineos Group chairman Sir Jim Ratcliffe has agreed to buy a 25 per cent stake in Manchester United and inject around £236 million (€272 million) into the club, the Red Devils have announced.
Ineos, who will assume delegated responsibility for the club’s football operations, and United have entered an agreement under which he will acquire 25 per cent of the Class B shares held by the Glazer family and up to 25 per cent of the Class A shares while investing $300 million (£236.7million) into its infrastructure.
A club statement said: “Manchester United announces 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.
Manchester United reaches agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the Company.#MUFC — Manchester United (@ManUtd) December 24, 2023 “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.