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Reading: After completing his purchase of a Manchester United interest, Sir Jim Ratcliffe replaces the Glazers as the head of football operations.
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Baner Club > Blog > Business > After completing his purchase of a Manchester United interest, Sir Jim Ratcliffe replaces the Glazers as the head of football operations.
Business

After completing his purchase of a Manchester United interest, Sir Jim Ratcliffe replaces the Glazers as the head of football operations.

The billionaire Sir Jim Ratcliffe, who made his fortune in petrochemicals, has successfully acquired a 27.7% share in Manchester United through his INEOS company, allowing him to replace the Glazer family as the football team's manager.

Last updated: 2024/02/21 at 8:22 AM
Published February 21, 2024
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Sir Jim, a lifelong United supporter, is paying $1.65 billion for the purchase, which includes an initial $200 million investment for Old Trafford’s infrastructure.
The 15-month-long drama surrounding United is resolved by the agreement, albeit supporters had been calling for the Glazers’ 19-year rule to end.
Said Sir Jim, it is “a great honour and comes with great responsibility” to become a co-owner.

“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,” he stated.

The 71-year-old continued, “Work to achieve those objectives will accelerate from today.”

Joel Glazer, executive co-chairman, remarked, “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.”

However, Sir Jim is spearheading a transformation of a failing club that will be playing in the Premier League for the eleventh time in a row without adding to its record 20 men’s league titles.

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admin February 21, 2024 February 21, 2024
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