MANCHESTER, England — British billionaire Jim Ratcliffe’s acquisition of a 25% stake in Premier League club Manchester United has been completed, putting an end to a 15-month saga.
The $1.25-billion deal, in which the INEOS chairman will also invest $300 million into the club’s infrastructure and take charge of their soccer operations, was struck in December and its final approval was mainly a formality.
“To become co-owner of Manchester United is a great honor and comes with great responsibility,” Mr. Ratcliffe said in a statement on Tuesday.
“This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans.
“Work to achieve those objectives will accelerate from today.”
The ownership deal had to clear regulatory hurdles, including Premier League and Football Association approval which were both given last week.
Mr. Ratcliffe’s purchase ended more than a year of uncertainty after majority owners, the Glazer family, said in November 2022 that they were looking at strategic options for investment into the club they took control of in 2005. — Reuters
