The bullet is through the church: Manchester United agrees with INEOS boss Ratcliffe in connection with the takeover

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What had been in the air for several months has now happened. Manchester United has officially reached an agreement with Sir Jim Ratcliffe, boss of chemical giant INEOS and owner of the cycling team of the same name, regarding the sale of a quarter of the shares. He becomes a major shareholder by purchasing 25% of the shares.

Ratcliffe is putting around one and a half billion euros on the table to acquire 25% of the B shares of the Glazer family, which has been in charge of Man United since 2005. He already made an offer for 25% of the A shares. The Qatari Sheik Jassim also initially showed interest, but he wanted 100% of the shares.

“We are pleased to have concluded this deal with Sir Jim Ratcliffe and INEOS,” said the Glazer family. “They bring a lot of commercial experience and a significant financial commitment to the club.”

Manchester United’s statement also said that Ratcliffe and the INEOS group will set aside a further $300 million to enable future investment around the infrastructure of Old Trafford, United’s home stadium.

Ratcliffe will also have a say in the club’s sporting policy. It is therefore expected that several new names will join the board. Dave Brailsford’s name has often been circulated in the corridors. The man who mainly made a name for himself in cycling with Team Ineos/Team Sky could get a role in football again after a short stint as sporting director at the French OGC Nice.

In addition to cycling team INEOS-Grenadiers, Ratcliffe also has a hand in F1 racing stable Mercedes and he is the owner of football clubs OGC Nice and Lausanne Sport.

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