Manchester United deal: Jim Ratcliffe acquires minority stake, football club's valuation touches $6.4 billion

livemint.com:

Reuters report said on Sunday. In a statement, Manchester United said that Jim Ratcliffe provided an additional $300 million intended to enable future investment into Old Trafford, a football stadium in Greater Manchester. INEOS has agreed to the Board's request to assume authority for overseeing the football operations of the Club.

This encompasses comprehensive management of both men's and women's football operations, as well as the Academies. Additionally, INEOS will hold two positions on both the Manchester United PLC board and the Manchester United Football Club boards. “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 looking 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," Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said as per the statement. “Sir Jim and INEOS bring a wealth of commercial experience as well as a significant financial commitment to 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," they added. Jim Ratcliffe said that the INEOS Sport group is helping drive further improvement at the Club and also provides funds intended to enable future investment into Old Trafford. The billionaire added that his company is committed to driving the Club forward.