Sir Jim Ratcliffe, a British billionaire, has sealed an agreement to buy a 27.7% share in Manchester United

Sir Jim Ratcliffe’s investment was almost inevitable when the Premier League authorised the proposed agreement last week. Manchester United has officially revealed that Ratcliffe has completed his purchase to take control of the club’s football operations, with the Glazer family retaining a majority share in the 20-time English champions.

The Trawlers Limited Company was managed by Ratcliffe, acquiring 25% of class B and class A shares. The percentage holding of the owner in the club grew to 27.7 after he had made an initial contribution of 200 million dollars(£158 million) to the development of Old Trafford.

The chairman and CEO of INEOS is set to inject another $100 million (£79.2 million) into the company by the end of the year, increasing his ownership to 28.9%. With an estimated value of approximately $1.6 billion (£1.25 billion), the investment will grant INEOS authority over the club’s football operations, including the men’s and women’s teams, as well as its academy system.

“To become co-owner of Manchester United is a great honour and comes with great responsibility,” Ratcliffe told the club’s official website. He further added, “This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans. Work to achieve those objectives will accelerate from today.”

Man United co-chairman Joel Glazer stated, “I would like to welcome Sir Jim as a co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United.” Ratcliffe is accompanied on the board by his INEOS colleagues Sir Dave Brailsford and Jean-Claude Blanc, who have previously assisted the 71-year-old with behind-the-scenes changes.

Last month, they played a role in the decision for Man United to appoint Omar Berrada, Manchester City’s chief operating officer, as the club’s new CEO. Ratcliffe is reportedly considering hiring Newcastle United’s sporting director Dan Ashworth, who has been placed on gardening leave following interest from Manchester United.

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