Sir Jim Ratcliffe acquires minority stake in Manchester United: what responsibilities will he have?
Manchester United have confirmed they have agreed to sell a minority 25% stake to Sir Jim Ratcliffe, the CEO of British chemicals firm INEOS. Both Ratcliffe and Qatari businessman Sheikh Jassim Bin Hamad Al Thani had reportedly been interested in completing a full takeover of the Red Devils, but the Glazer family, the current owners, have opted to remain majority shareholders. Ratcliffe to invest a further $300 million in the club According to a statement issued by the Premier League giants, the deal will see Ratcliffe, who already owns French club Nice and Swiss side FC Lausanne-Sport, acquire 25% of Class B shares , which had been exclusively held by the Glazer family, along with up to 25% of Class A shares , which are traded on the New York Stock Exchange. The 71-year-old, who was born in Greater Manchester and is a lifelong United, will also invest $300 million intended to help with the redevelopment of parts of Old Trafford , England’s biggest club ground which has been describ...