Sir Jim Ratcliffe Purchases 25% Stake In Manchester United

The second-richest person in the UK, Sir Jim Ratcliffe, has closed a £1.3 billion agreement to purchase a 25% share in Manchester United from the Glazer family.

On Sunday, December 24, Ratcliffe—the CEO of the petrochemicals company Ineos—was formally introduced as a minority owner at United, ending the lengthy 13-month story that started in November 2022 when the Glazers declared they would entertain proposals for the team.

Ratcliffe and Sir Dave Brailsford will take over football operations as part of the agreement, marking yet another significant change in Old Trafford’s senior leadership after it was announced on November 15 that Richard Arnold had resigned as chief executive.

When Ratcliffe first indicated interest in investing in United back in January, he was up against competition from Sheikh Jassim bin Hamad al Thani of Qatar, whose offer to purchase the team was reportedly rejected for an estimated £5 billion, and who later withdrew from the race.

That cleared the way for Ratcliffe, one of the wealthiest individuals in the UK and a lifelong United supporter, to work out a plan that would give him and Brailsford control over football affairs in exchange for a majority stake held by the Glazers.

In a statement on the club’s website, Ratcliffe said: “As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club. Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.

“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.”

The deal is subject to approval.

The 71-year-old millionaire owns 33% of Mercedes Formula 1 and controls Nice, a French team.

In 2019, he also acquired Team Sky, a cycling team, and renamed it Ineos Grenadiers. Brailsford was a key player in Team Sky’s success from the start, having joined in 2010. His “marginal gains” strategy helped riders like Chris Froome and Bradley Wiggins win the Tour de France.

After the acquisition, Brailsford stayed on as team principal and was named director of sport for Ineos in 2021.

Ratcliffe is an astute manager and well-known businessman who will be keen to put an end to United’s ten-year losing streak and return the team to winning ways.

Following Sir Alex Ferguson’s retirement in 2013, the Glazer family, who acquired United for just under £800 million in 2005, has seen a dramatic decline in performance and fan protests.

United last won the Premier League in 2013. After a dismal start to the season that saw them eliminated from Europe before Christmas for the first time since the 2005–06 campaign, the team is presently ranked seventh under Erik ten Hag.

Only the Europa League, one FA Cup, and two League Cups have been added to the English powerhouses’ trophy collection in the post-Fergie period out of all the major titles that remain to be won.