Football and money: Changes in Manchester United's shareholding

English Section / 22 februarie

Photo source: facebook / Manchester United-Football Club

Photo source: facebook / Manchester United-Football Club

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Transactions in the world of football are at an unprecedented level, from the contracts of coaches and players to transfers and the sale of shares. British billionaire Jim Ratcliffe, the patron of the petrochemical company Ineos, has become a co-owner of Manchester United football club, after his entry into the capital of this group was officially approved. The 71-year-old businessman has "completed the acquisition" of 25% of the English club's shares, according to the terms of the agreement, "after meeting all conditions, including approvals from the English Football Association and the Premier League", he announced Manchester United in a statement. Ratcliffe has invested $200 million (approximately euro185 million) to increase its share portfolio, which brings its commitment to "approximately 27.7%", the statement said. He also has to come up with another 100 million dollars (92 million euros) by December 31, 2024, an amount intended for "future investments in the infrastructure of the Old Trafford stadium". This would bring his commitment to 28.9%. "Becoming co-owner of Manchester United is a great honor and comes with great responsibility," commented Ratcliffe.

The deal "marks the completion of the transaction but is only the beginning of our journey to bring Manchester United to the top of English, European and world football with world-class facilities for our supporters. Work to achieve these goals will accelerate from today," he added the billionaire. This outcome marks the end of a long story that began in November 2022, when the Glazer family, the American owner of the famous English team, announced that they were studying a total or partial sale of the club. Jim Ratcliffe faced competition from Sheikh Jassim Ben Hamad Al Thani, chairman of Qatar Islamic Bank (QIB), who withdrew from the race in October 2023.

The founder of the Ineos group is no stranger to the world of football, he also patronizes the clubs OGC Nice (France) and Lausanne-Sport (Switzerland).

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