The Premier League has ratified Ratcliffe's acquisition of a 25% stake in Manchester United

The English Premier League has ratified Sir Jim Ratcliffe's acquisition of a 25% stake in Manchester United. The chairman of INEOS has successfully undergone the scrutiny mandated by the Premier League for club owners.

The final say remains with the Football Association, which has yet to complete its part of the process, but this is considered a formality.

Recall that in December, Manchester United announced the sale of a portion of its shares to INEOS for £1.25 billion. As part of the deal, the Manchester United Board of Directors has delegated the management of the club's football operations to INEOS. This includes all aspects of men's and women's football activities and academies, as well as two seats on the football club's Board of Directors. Additionally, the businessman will allocate $300 million for further investments.

In January, Ratcliffe expressed hope for the official approval of his decision to acquire Manchester United shares by mid-February. On Monday, he filed a statement with the U.S. Securities and Exchange Commission (SEC) - the government agency of the United States. According to this document, the deadline for the tender offer has been extended until Saturday, February 17th.