Search Box

Sir Jim Ratcliffe Triumphs | Acquires 25% Ownership in Manchester United

 Sir Jim Ratcliffe Triumphs | Acquires 25% Ownership in Manchester United

Jim Ratcliffe
 Ineos Sport CEO Jean-Claude Blanc, Ineos Sports Director Dave Brailsford, Ineos CEO and owner of OGC Nice Jim Ratcliffe on their way to the lockerroom following Nice victory in the Ligue 1 match between AS Monaco (ASM) and OGC Nice (OGCN) at Stade Louis II on september 22, 2023 in Monaco, Monaco.(Image-Getty)

He had been trying for a long time. Sir Jim Ratcliffe offered several times to buy the English football club Manchester United. However, Ratcliffe pulled out of the decision after United's current owners, the Glazer family, demanded an 'unreasonable price'. But in the end, this 71-year-old British billionaire was successful.

Ratcliffe has bought 25% of the club, Manchester United said in a statement on their website today. Top media including BBC, Guardian, Sky Sports, ESPN have also confirmed the matter.

Ratcliffe has to spend 125 million pounds (17 thousand 386 crores) to buy a 25 percent share of United's ownership. The most successful club in the English Premier League will invest another 2 crore 36 lakh pounds (3 thousand 282 crores) in the future. According to the agreement, his company Ineos Group Limited will take control of the management of the club.

  In 2005, United's ownership was bought by the American Glazer family for £79 million. The family first announced the sale of ownership in November last year. After 13 months, the announcement of the sale of El Sikki share.

United have not won the Premier League title since 2013. Won only one title in last 6 years. The Red Devils are suffering this season as well. Exited the League Cup (also known as the Carabao Cup) last November, this month they were knocked out of the Champions League at the bottom of the group stage. It is number eight in the Premier League points table. There are four consecutive matches without a goal in all competitions. A large section of fans often blame the Glazer family for poor results on the field. This time is no exception. The Glazer family was eventually forced to sell the club.

In an announcement, club co-chairmen and directors Abram Glazer and Joel Glazer said: '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 focused on the success of our men's, women's and academy teams. Looking for options to help the club grow. Sir Jim and the Ineos Group are committed to bringing massive commercial expansion as well as financial prosperity to the club. We hope the club continues to improve at every level to bring more success to the fans in the future.”

Billionaire Ratcliffe was born in Manchester. He is the founder and chairman of chemical company Ineos. Ineos is the fourth largest chemical company in the world. The businessman, who has always claimed to be a lifelong United fan, said after buying a stake in the club, "Manchester United's commercial success has ensured that the funds are always there to win trophies at the highest level." This potential has not been realized in recent times. Our common goal is clear. Together we want to take the club to where Manchester United should be - at the very top of English, European and world football.'

Earlier, Sheikh Jassim bin Hamad bin Khalifa Al Thani, the son of the former prime minister of Qatar, made several offers to buy United. In the latest proposal, he demanded 500 million pounds to buy 100% of the club. He even wanted to settle all the debts of the club. But the Glazer family refused to sell full ownership of the club.

Next Post Previous Post
No Comment
Add Comment
comment url