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 described as “tired” and “worn”.

What will Ratcliffe and INEOS be in charge of?

Ratcliffe and INEOS “accepted a request by the Board to be delegated responsibility for the management of the Club’s football operations. This will include all aspects of the men’s and women’s football operations and Academies”.

According to journalist Miguel Delaney of The Independent, “Ratcliffe’s football hierarchy will not have to run decisions past the US-based siblings, in the way that has arguably hampered United for so long. The authority is there to make major decisions.”

The statement also recognises the team’s on-field performances have not been able to keep up with the club’s off-field success. United haven’t won the Premier League since Sir Alex Ferguson retired in 2013, while their last Champions League success came in 2008, yet they remain one of the most commercially successful clubs in world soccer.

United “potential has not been fully unlocked in recent times”

“The joint ambition is to create a world-class football operation building on the Club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy.”

Ratcliffe similar acknowledged that “whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times. Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world Football.”

Under-fire Glazer family remain majority shareholders

The news brings the long-running takeover saga to something of an end, at least for now. After announcing a “strategic review” in November 2022, it was initially suggested the Glazer family were looking for a full sale, only for them to reject a number of offers from Ratcliffe and Sheikh Jassim. They have ultimately decided to stay on as majority shareholders, much to the frustration of supporters, who have been unhappy with the way the club has been run for some time.