Officially: Jim Ratcliffe acquired 25% of Manchester United's shares

Manchester United announced today the agreement to sell a 25% stake in the club to Sir Jim Ratcliffe, Chairman of INEOS. As part of the deal, the Board has delegated the football management of the club to Ratcliffe's company, which will encompass all aspects of the men's and women's football operations, academies, and two seats on Manchester United Football Club's Board of Directors. The businessman will inject an additional $300 million as part of this transaction.

The current owners of Manchester United, Avram and Joel Glazer, have already commented on the sale of the shares.

'We are delighted to have concluded this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to explore various alternatives to strengthen Manchester United, with particular focus on ensuring success for our men's, women's teams, and Academy sides.'

Ratcliffe also provided his insights on the deal:

'As a local boy and lifelong supporter of the club, I'm thrilled we have reached an agreement with the Manchester United Board that delegates to us the responsibility for the football operations of the club. While the commercial success of the Club provided the resources to compete for the highest-level trophies, recently this potential has not been fully realized. We will bring global insights, experience, and talent from broader populations. The INEOS Sports Group will help further improve the club and provide resources earmarked for future investments.'

It's worth noting that currently, the 'Red Devils' hold the eighth position in the Premier League table.