After months of negotiations and admistrative procedures, Sir Jim Ratcliffe is finally an official co-owner of Manchester United. The 71-year old British billionaire acquired a 27.7% stake in the club. The completion of the transaction was announced yesterday, following the approval of all required conditions, including those set by the FA and the Premier League.
Manchester United is pleased to confirm that Sir Jim Ratcliffe has completed his 27.7% acquisition of the club, following approval of all conditions, including the FA and the Premier League.#MUFC
— Manchester United (@ManUtd) February 20, 2024
The deal not only brings the richest man in the United Kingdom into the fold of Manchester United’s ownership but also grants him sporting control, despite the Glazers retaining the majority stake. The Englishman’s involvement is already setting the stage for major developments such as providing advanced plans for a 90,000 capacity ‘New Old Trafford’.
On a not so positive note, Manchester United’s first summer transfer budget in the new era is expected to be tight due to FFP regulations. It could be further limited if the team does not secure a spot in the Champions League, as the Red Devils currently sit in 6th place, 5 points adrift of the last slot ensuring qualification for the most prestigious club tournament.
Sir Jim Ratcliffe is determined to witness the club’s revival. With strategic investments and a focus on long-term development, the aim is to take United back to the pinnacle of English, European, and world football where fans believe they belong.