2023-12-24 18:10:37
24/12/2023
Updated at 5:23 p.m.
Manchester United has reached an “agreement for Sir Jim Ratcliffe, president of INEOS, to acquire up to 25% of the company’s capital,” as the English football club itself has just announced.
Ratcliffe thus acquires a minority stake in Manchester United at $33 per share for a 25% stake, which will give the club an enterprise value of $6.3 billion.
???? The club reaches an agreement with Sir Jim Ratcliffe, president of INEOS, to acquire up to 25% of its shares.#MUFC
— Manchester United (@ManUtd_Es) December 24, 2023
Sheikh Jassim bin Hamad al Thani of Qatar was also looking to buy the club, but abandoned the process, saying that would not increase its offer of 6 billion dollarsleaving the British billionaire to reach an agreement with the owners, the Glazer family.
His company will also assume the management of the club
Ratcliffe’s INEOS will also take over management of Manchester United’s football operations and invest $300 million in the club.
«As part of the transaction, INEOS has accepted a request from the board of directors for responsibility for managing the club’s football operations is delegated to him“said the club in a statement.
“This will include all aspects of men’s and women’s football operations and academies, along with two positions on the board of directors of Manchester United PLC and the boards of directors of Manchester United Football Club.”
Ratcliffe’s INEOS too He owns the French club Nice in Ligue 1, FC Lausanne-Sport in the Swiss Super League and works with Racing Club Abidjan. of the Ivory Coast Ligue One. He is also behind the Grenadiers, one of the most successful cycling teams in the world.
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