Glazer Family Breaks Silence as British Billionaire Completes Acquisition
Manchester United has announced the official completion of Sir Jim Ratcliffe’s acquisition of a 27.7% ownership stake in the club, marking a significant development in the footballing landscape.
In a statement released on Tuesday evening, Manchester United confirmed the successful conclusion of the deal, which has been valued at approximately £1.03 billion. Ratcliffe, the British billionaire and president of chemicals firm INEOS, will further invest $100 million by December 24, 2024, aimed at facilitating future infrastructure investments at Old Trafford.
The acquisition sees Ratcliffe stepping into a prominent role in footballing operations at Old Trafford, alongside his trusted ally Sir Dave Brailsford. Omar Berrada has been appointed as United’s new chief executive, with Ratcliffe expressing his intentions to bring Newcastle sporting director Dan Ashworth on board in the near future.
Joel Glazer, United’s Executive Co-Chairman, extended a warm welcome to Sir Jim as co-owner, expressing optimism about the club’s future under his stewardship. Glazer emphasized the shared commitment to delivering success and excellence for Manchester United supporters worldwide.
In his remarks, Sir Jim Ratcliffe acknowledged the honor and responsibility that comes with co-ownership of Manchester United, outlining ambitious plans to propel the club back to the summit of English, European, and world football. Ratcliffe stressed the importance of world-class facilities for fans and signaled a swift commencement of efforts to achieve these objectives.
With Ratcliffe’s ownership now secured, Manchester United is anticipated to embark on a significant restructuring of the playing squad, aiming to strengthen its competitive position. Ratcliffe’s keen interest in bringing Dan Ashworth to oversee summer recruitment reflects the club’s determination to bolster its operations, despite ongoing negotiations with Newcastle United over Ashworth’s contractual obligations.
As the Red Devils navigate through this transformative phase under new ownership, anticipation builds for the club’s future endeavors and its pursuit of sporting glory on both domestic and international stages.
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