MANCHESTER. Ineos CEO Jim Ratcliffe has agreed to buy a 25 percent stake in the English football club Manchester United.
At the same time, he promised to invest about 240 million pounds in infrastructure. The club informed about it on Sunday.
Ineos will take responsibility for the club’s football operations and will acquire 25% of the Class B shares and 25% of the Class A shares from the current owners, the Glazer family.
“As part of the transaction, Ineos has accepted an executive committee request and will be delegated responsibility for managing the club’s football operations. This includes all aspects of the men’s and women’s teams and academies, as well as two seats on the executive committee,” Manchester said in a statement.
“As a local boy and lifelong supporter of the club, I am delighted that we have been able to reach an agreement with the Manchester United board which will delegate responsibility for the management of the club’s football operations to us.
We will bring global and specialist knowledge and talent from the wider Ineos Sport group to help drive further improvement at the club, while providing funds for future investment at Old Trafford.
Our shared ambition is clear – we all want to see Manchester United where they belong, at the very top of English, European and world football,” said Ratcliffe.
The British billionaire has been trying to buy a significant minority stake in Manchester United for some time.
Qatari businessman Sheikh Jassim was also in the running, but withdrew his bid for full control of the club on 14 October. The dpa agency informed.
2023-12-24 18:27:42
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