Manchester United takeover LIVE: Sir Jim Ratcliffe’s Ineos completes deal with Glazers for minority stake
The Ineos Group owner has purchased a 25 per cent stake in the Premier League giants from the Glazer family
Manchester United have entered a new era as Sir Jim Ratcliffe has completed his deal to become a minority shareholder in the Premier League club.
Ratcliffe’s Ineos Group have announced that they have agreed a deal, thought to be in the region of £1.3bn, with the current owners, the Glazer family, to buy 25 per cent of United.
The petrochemicals billionaire will take control of football operations and is prepared to invest a further £245m into infrastructure works at Old Trafford and possibly Carrington, United’s training ground.
The agreement will signal the end of a tumultuous chapter in the club’s history after the Glazers announced that they would consider selling the club back in November 2022.
Follow all the latest updates below:
Takeover announcement set for 4pm
A new update for you, Manchester United are set to announce the Sir Jim Ratcliffe takeover at 4pm GMT, so around 20 minutes’ time. This 13-month saga finally having a finish line in sight it seems.
Gary Neville slaughters timing of announcement
If you’re thinking that Christmas Eve afternoon, especially when it falls on a Sunday, is a strange time for Manchester United to announce a takeover deal that pretty significantly affects their future, well you’re not alone...
The always-outspoken Gary Neville has absolutely slaughtered the timing.
He posted on Twitter/X: “Manchester United 2023 has been a disgrace to the end. The timing of this is truly awful and no functioning organisation would even think about it. Anyway all the very best to Jim Radcliffe [sic] and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch.”
Sir Jim Ratcliffe set to complete Manchester United minority takeover today
Sir Jim Ratcliffe is set to become a minority shareholder in Manchester United after the long-awaited deal with the club’s owners, the Glazer family, is expected to finally be completed this afternoon.
The Independent understands that final details are now being sorted in the deal and the announcement should come later this afternoon after there was a significant breakthrough on Friday. The promise of an imminent announcement has been a regular occurrence over the past month, leading to some scepticism, although this time is understood to be different.
Ratcliffe’s Ineos Group is expected to pay close to £1.3bn to buy 25 per cent of the Premier League club.
Here’s the latest on the takeover from our football correspondents Miguel Delaney and Richard Jolly:
Sir Jim Ratcliffe set to complete Manchester United minority takeover today
The Ineos owner will finally complete the long-awaited deal for a minority stake, expected to be 25 per cent, from the Glazer family to invest in the team he supported as a boy
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