Manchester United have confirmed they have agreed to sell a minority stake to Sir Jim Ratcliffe with the INEOS chairman committed to investing another $300m into the club.
Manchester United have confirmed they have agreed to sell a minority stake to Sir Jim Ratcliffe with the INEOS chairman also committed to investing another $300 million into the club.
Ratcliffe has acquired a 25% stake in the club and will also take responsibility for football operations at United.
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A statement issued on Sunday said his further $300m commitment is „intended to enable future investment into Old Trafford.“
Ratcliffe said: „As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football operations of the club.
„Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
„We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
„We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward.
