Ineos founder Sir Jim Ratcliffe acquires 25% stake in Man Utd

Sir Jim Ratcliffe has finalized his acquisition of a 25% share in Manchester United, a confirmation which marks the conclusion of a prolonged period of uncertainty in which the Glazer family, the proprietors of Manchester United, were seeking external investment.

Despite the heated competition for investment, which included significant players such as Qatari mogul Sheikh Jassim bin Hamad Al Thani, it was Ratcliffe who ultimately emerged as the victor. Sheikh Jassim's proposal to buy the entirety of the club's holdings for £5bn, supplemented by another billion to alleviate the club's financial burden, was surpassed by the Glazers' counter request of £10bn.

The deal with the Glazers is an assurance of Ratcliffe's acquirement of a 25% minority interest in the club. It is stipulated by 90min that Ratcliffe aspires to own a majority share in the future but for now accepts the continuance of the Glazers' involvement

Even with a growing doubt about whether they would transact with any prospective investor, the Glazers were unwilling to negotiate below their specified price, and as it stands, Ratcliffe's acquisition of shares has been officially completed.

90min has also communicated that Ratcliffe, who has a significant background in football as the owner of Ligue 1 frontrunners OGC Nice, plans to implement a new management team at the head of Manchester United. This team would include himself, co-president Joel Glazer, and INEOS sporting director Sir Dave Brailsford.

The week preceding Ratcliffe's inauguration, it was disclosed that Richard Arnold, the CEO of Manchester United, was to resign from his position and leave the team after a tenure of 16 years. Currently, the club is seeking a replacement, with Patrick Stewart taking up the responsibilities in the meantime.