Sir Jim Ratcliffe completes purchase of 25% stake in Man Utd
- Man Utd confirm Ratcliffe's purchase of 25% stake in club
- Ratcliffe eyeing majority ownership in future
- INEOS founder grew up a fan of the Red Devils
By Sean Walsh
Manchester United have confirmed that Sir Jim Ratcliffe has completed the purchase of a 25% stake in the club.
The announcement of Ratcliffe's acquisition brings an end to a year-long saga in which the United-owning Glazer family sought outside investment.
Ratcliffe emerged as one of the leading final bidders to secure investment along with Qatari banker Sheikh Jassim bin Hamad Al Thani. However, Sheikh Jassim's bid to purchase a full 100% stake in United for £5bn - plus an extra £1bn to help wipe the club's debts - fell short of the Glazers' significantly higher asking price of up to £10bn.
That cleared the path for Ratcliffe to agree a deal with the Glazers for a minority 25% stake in the club. 90min understands that Ratcliffe intends to become the majority stakeholder one day but was willing to come to terms with keeping the Glazers on board for the time being.
The Glazers were reluctant to sell for below their asking price and though there was growing scepticism whether they would come to terms with any interested party, Ratcliffe's purchase of a stake has now gone through.
90min reported recently that Ratcliffe - who has experience in football as the owner of Ligue 1 leaders OGC Nice - is looking to implement a new three-man leadership committee at the top of United's hierarchy consisting of himself, co-chairman Joel Glazer and INEOS director of sport Sir Dave Brailsford.
Last week, United confirmed on the eve of Ratcliffe's arrival that CEO Richard Arnold would be stepping down from his role and leaving the club after a 16-year stay. They are now on the search for a permanent successor, with Patrick Stewart taking on the role in an interim capacity for the time being.
READ MORE ON THE SALE OF MANCHESTER UNITED AND THEIR POTENTIAL OWNERS
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