Manchester United’s proposed 25% stake acquisition by Sir Jim Ratcliffe has been given the green light by the Premier League. This approval marks a significant development in the ongoing process of restructuring the ownership of the club. The announcement was made in an update filed by the club to the Securities and Exchange Commission.
The Premier League released a statement confirming the approval of Sir Jim Ratcliffe’s acquisition of a quarter of Manchester United FC. Additionally, a further investment of $300 million in the club has been sanctioned. The Owners’ and Directors’ Test (OADT) was successfully completed, paving the way for the ownership structure change.
Next Steps
While the Football Association’s approval is still pending, sources have indicated that the process is progressing positively towards completion. The deadline for the tender offer to A shareholders has been extended, with a significant percentage of shares already tendered. This surpasses the threshold required for Ratcliffe’s 25% stake.
Upon completion of the deal, INEOS, Ratcliffe’s company, will assume management of the football operations at Manchester United. Sir Dave Brailsford, an INEOS director with a background in sports management, has been actively involved at the club’s training ground since the initial announcement. Meetings with manager Erik ten Hag, staff, and fan groups have already taken place to facilitate a smooth transition.
Future Prospects
The potential completion of the deal is anticipated to be a mere formality at this stage, with sources suggesting an expedited timeline. Both Ratcliffe and Brailsford have demonstrated their commitment by engaging directly with key stakeholders within the club. Their presence at recent matches underscores their dedication to Manchester United’s future success.
The Premier League’s approval of Sir Jim Ratcliffe’s stake acquisition is a significant milestone in the club’s journey towards restructuring its ownership. With positive progress being made and key operational changes on the horizon, the future looks promising for Manchester United under the stewardship of new investors.
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