Finally, a buyer has been found for the 25% stake of the American Glazer family in Manchester United. The buyer is Manchester-born billionaire, Sir Jim Ratcliffe, founder of the petrochemicals company Ineos. Ratcliffe, who is paying £1.3 billion for the Glazers‘ shares, has supported Manchester United from childhood.
He said after inking the deal, “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”.
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An Experienced Football Investor Assumes Control of Football Operations at Manchester United
Unlike the Qatari Qatari businessman Sheikh Jassim bin Hamad al Thani whose bid to buy 100% of Manchester United in January 2023 was rejected, Sir Jim Ratcliffe is an experienced investor in sports. Ratcliffe, 71 years old, owns the French football club, Nice and also a substantial stake in Mercedes Formula 1.
Under Jim Ratcliffe, Manchester United is expected to make investments in attracting additional talents and reverse its loss of form since the resignation of the legendary manager Sir Alex Fergusson in 2013.
Good Riddance to the Glazers’ Era at Manchester United
Manchester United has not won any major silverware since 2013. This has been partly blamed on the Glazers’ lack of investment in the club. The training facilities at the club have recently not been of the standard expected of a top-flight premiership club.
Sir Jim Ratcliffe commented further, “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.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”