On 24 December 2023, Manchester United supporters ushered in perhaps the most joyful Christmas Eve in the post-Ferguson era. Manchester United have issued an official announcement confirming an agreement with Sir James Ratcliffe, 71-year-old British billionaire and chairman and CEO of INEOS Chemical Group, who will buy up to 25% of the club's shares. This also means that although the Glazer family has not completely bid farewell to the Glazer family, the Red Devils will completely get rid of the "bloodsucking" shadow of the Glazer in competition, and the right to speak football will be controlled by Lajue.
The official announcement confirmed that Ratcliffe reached an agreement with Manchester United on the acquisition of 25% of the shares, covering the same proportion of A shares and B shares, A shares are Manchester United shares listed on the New York Stock Exchange, and Ratcliffe acquires 25% of them, accounting for 8% of his personal shareholding, and B shares are held by the Glazer family, and Ratcliffe also acquires 25% of the shares of Gray's Door, accounting for 17% of his personal shareholding. As a result, he became United's largest individual shareholder, and he also added an additional $300 million to upgrade Old Trafford's infrastructure in two instalments: $200 million down to the closing of the dealThe final tranche is $100 million, which will be received by the end of 2024.
Rajue bought Manchester United's A and B shares for $33 per share, while the price of Manchester United*** on the New York Stock Exchange on Saturday was $19$64 shares, a total of 12500 million pounds, a premium of about 6802%。
At the same time, Manchester United confirmed that Rajue has full authority for the club's Athletic: "As part of the transaction, INEOS will be responsible for the management of the club's football business, including the operation of the men's and women's football teams and all matters of the youth echelon at all levels, as well as two seats on the board of directors of Manchester United and Manchester United Football Club. ”
Our shared goal is to build on the club's many existing strengths to create a world-class football operating organisation, including continuing to benefit from successful off-field performances. "The transaction is subject to regulatory approvals from various parties, including the Premier League. According to England**, approval is expected to take six to eight weeks, with Ratcliffe unable to exercise decision-making power at United until the agreement is approved.
Manchester United Co-Chairmen and Directors Avram Glazer and Joel Glazer said: "We are delighted to have reached this agreement with Sir Ratcliffe and INEOS. As part of our strategic review announced in November 2022, we are committed to finding multiple alternatives to help strengthen Manchester United, with a focus on bringing success to our men's, women's and academy teams. Rajue and INEOS bring a wealth of commercial experience and significant financial commitment to the club. And, through INEOS Sport, Manchester United has been able to bring in senior professionals who have built and led elite teams on and off the pitch. Manchester United's talent is all over the club and our desire is to continue to improve at all levels and help our great fans achieve even greater success in the future." ”
Ratcliffe said: "As a local boy and a lifelong fan of the club, I am delighted to have reached an agreement with the Manchester United Board and to be entrusted with the management of football operations. While commercial success has ensured that the club has always been able to compete for the highest trophies with sufficient funds, this potential has not been fully realised in recent years. We will bring in the overall knowledge, expertise and wider talent of INEOS Sport to help drive the club's further development, while also providing future investment for Old Trafford. We will be rooted for a long time, fully aware of the challenges and responsibilities that lie ahead, and we will respond to them with rigour, professionalism and enthusiasm. We are committed to working hand-in-hand with everyone at the club – the board, staff, players and fans – to help move the club forward. Our common goal is clear: we all want to see Manchester United return to where we belong, at the top of English, European and world football. ”