Football: Sale of Manchester United!
By Prof Dr Ian Blackshaw
British billionaire, Sir Jim Ratcliffe, the founder and chairman of the Ineos Petrochemicals Group and Ineos Sport, which includes interests in Formula One, cycling, sailing, football and rugby, has agreed to buy a 25% stake in Manchester United Football Club for around £1.03 billion.
Manchester-born and a life-long supporter of the Club, his Group will take control of football operations at the Club and will also inject £236 million for future investment in the Club’s Old Trafford Stadium.
The Glazer family, owners of the Club, which they acquired in 2005 for £790 million, put the Club on the market 13 months ago, with an asking price of £10 billion.
The only other bidder, Qatari Banker, Sheikh Jassim bin Hamad Al Thani, withdrew in October this year his offer to buy 100% of the Club.
The sale is subject to regulatory legal requirements and approval by the English Premier League, expected to take several weeks.
Ratcliffe commented:
“We are here for the long term……[and] we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
And added:
“We are committed to working with everyone at the Club – the board, staff, players and fans – to help drive the Club forward.”
Manchester United have not won the English Premier League since 2013, and there have been regular protests against the Glazer family ownership of the Club!
Prof Dr Ian Blackshaw may be contacted by e-mail at ‘
