British billionaire Jim Ratcliffe, owner of multinational chemicals company Ineos, has officially become a co-owner of Manchester United after the process was approved by the federation and the English Football League, the club announced on Tuesday.
In a statement, Manchester United, the club where Portugal internationals Bruno Fernandes and Diogo Dalot play, explained that the acquisition of a 25% stake in the club by the 71-year-old businessman has been completed and all approvals must be granted by the club. the responsible parties, i.e. the English Federation, the Premier League and the British market.
According to local press reports, Ratcliffe has invested around 185 million euros (ME) in the Red Devils, earmarked for investment in the football team, and will invest a further 100 ME before the end of the year, in this case with the aim of upgrading the Old Trafford stadium and the club’s infrastructure .
Before joining Manchester United, the founder and owner of the Ineos group already owned Nice from the French league and Lausanne from the Swiss championship.
The North American Glazer family, which announced plans to sell all or part of Manchester United in November 2022, remain the majority shareholders, although responsibility for the team’s future now passes to Ratcliffe.
Author: Lusa
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.