It’s arguably the news that many Man United fans have been waiting over a year for, and it seems that Sir Jim Ratcliffe’s partial takeover of the club will finally be announced today.
After months of negotiations and a protracted bidding process, the end is almost here, bringing to a close a fraught 13 months or so.
Jim Ratcliffe's 25% stake in #MUFC will finally be announced today. Standby for more in the coming hours… pic.twitter.com/20Qq3L7eun
— Ben Jacobs (@JacobsBen) December 24, 2023
The hard work will begin once the official announcement is made of course, given that there is an awful lot of work that Sir Jim and his INEOS staff will need to get their claws into.
Before any decisions are made, some further due diligence will surely be required in order to understand exactly what areas of the sporting side of the business should be tackled first.
There’s an inherent need to sort out the standard of playing staff in the first-team, but that may need to be parked until at least the summer whilst other areas are worked on.
One issues that the long-suffering Old Trafford faithful are unlikely to be happy with is that it appears that, contrary to earlier reports, the Glazer family do not have an obligation to exit the business in a defined period.
Understand there is no guaranteed Glazers exit as part of the INEOS deal. There will be options for an increased stake, with Ratcliffe stating when the process began he wanted a “majority”. But there is no ‘obligation’ for Glazers to sell entirely. https://t.co/i5zgfooDNX
— Ben Jacobs (@JacobsBen) December 24, 2023
For all intents and purposes, Sir Jim’s deal, if journalist, Ben Jacobs is correct, would allow representatives from the family to stay on board.
? OFFICIAL: Manchester United plc announces today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United's Class B shares and up to 25 per cent of Manchester United's Class A shares. pic.twitter.com/lmTD9xMnsX
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
?? Manchester United also announce that “Sir Jim Ratcliffe and INEOS group will provide an additional $300 million intended to enable future investment into Old Trafford”. pic.twitter.com/31nU4kiwe8
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
?? Manchester United also confirm that INEOS will be responsible for management of football operations.
Key point for Sir Jim Ratcliffe since day one of negotiations. pic.twitter.com/EhdmXjogGp
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
? Avram Glazer and Joel Glazer: “We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS”.??“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club”.
“Through INEOS Sport, Manchester United will… pic.twitter.com/Wt5QDs12un
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
? Sir Jim Ratcliffe’s message to Man Utd fans.
“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”.
“As a local boy and a lifelong supporter of the Club, I am very pleased that we… pic.twitter.com/beCTgqZd7X
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
?? INEOS will start working soon on new board structure with Jean Claude Blanc and Sir Dave Brailsford joining the club, as expected.
More will follow with new director, new transfer strategy, different plan for 2024 — it will take some time but changes are expected. pic.twitter.com/8DhBhlXylD
— Fabrizio Romano (@FabrizioRomano) December 24, 2023