British billionaire Sir Jim Ratcliffe has completed his purchase of a minority stake at Premier League giants Manchester United after the deal was finalised on Tuesday (Feb 20). Ratcliffe, having agreed to buy a minor stake at the club from United’s owners, the Glazers family, will look after the football operations of the club as they try to reclaim lost glory. The deal was initially announced on 24 December 2023, however, subject to paperwork, it was finalised on Tuesday with the Red Devils now set for a new era as new investments are also to follow the club soon.

Thank you for reading this post, don't forget to subscribe!

Ratcliffe will get control of football operations

ALSO READ | Champions League: Marko Arnautovic gives Inter Milan slender advantage over Atletico Madrid

“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,” Ratcliffe said in a club statement.

“Work to achieve those objectives will accelerate from today.”

A boyhood United fan, the 71-year-old’s investment, will give him control of football operations at the 20-time English champions. The deal was approved by the Premier League and English Football Association last week which will see a start of a new era at the club. It is reported that Ratcliffe’s minor stake purchase has cost him $1.3 billion, a little less than United’s current squad value of $1.7 billion. Ratcliffe’s will now have a total stake of 27.7 per cent and will inject $100 million more by the end of this year to enable investment in infrastructure at Old Trafford.

Ratcliffe for the majority of 2023 was in a race to buy the entire club stake after the club was put on sale by the American owners. Ratcliffe and Sheikh Jassim bin Hamad Al Thani of Qatar were in fierce competition to buy the club, however, the current owners retracted from the move and instead chose to sell a minor stake in the club.

Joel Glazer, United’s executive co-chairman, said: “I would like to welcome Sir Jim as co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United.”

Ratcliffe in charge of the football side of things will now turn attention to the pursuit of Newcastle’s Dan Ashworth to be United’s sporting director while he is on a guarding leave at the Magpies. On the other hand, they are also in the race to sign Omar Berrada from local rivals and Premier League champions Manchester City to be the club’s new CEO.

You can now write for Baazigarnews.com and be a part of the Baazigar family. Share your stories and opinions with us here.