British billionaire Jim Ratcliffe becomes co-owner of Manchester United
British billionaire Sir Jim Ratcliffe has become a co-owner of Manchester United. This was reported on the website of the English club.
The deal is valued at £1.2 billion ($1.5 billion) and was completed on February 16. “We are pleased to announce that Sir Jim Ratcliffe has acquired 25 per cent of the club’s Class B and 25 per cent Class A shares. All conditions and requirements have been met, including the approval of the Football Association and the English Premier League (EPL),” Manchester said in a statement. United.”
It is known that the billionaire invested $200 million in the club. It is expected to invest another 100 million by December 31, 2024. The money will be used to improve the infrastructure of the Old Trafford stadium. “Becoming a co-owner of the club is a great honor and a great responsibility. “We have closed the deal but are only at the beginning of our journey to return Manchester United to the top of English, European and world football,” Ratcliffe said.
Until this moment, the sole owners of Manchester United were American billionaires, brothers Abraham and Joel Glazer. Their father, Malcolm Glaser, had been buying up the club’s shares since 2003, and later bought them out entirely, spending a total of $1.47 billion. In 2006, he included his sons in the club’s leadership.
Ratcliffe, 71, is the owner of chemical giant Ineos. Bloomberg currently estimates his fortune at $18.3 billion.
Manchester United announced the sale of shares in the club to Ratcliffe on December 24. Commenting on the news, the billionaire said that he is a resident of Manchester and a fan of the club.
Source: Lenta
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