Sir Jim Ratcliffe has completed a deal to purchase a stake in Manchester United which will grant his Ineos company control of football operations at the club.
The Ineos founder, chairman and chief executive has completed his acquisition of 25 per cent of the Club’s class B shares and 25 per cent of the club’s Class A shares.
The investment from Trawlers Ltd, a company wholly owned by Ratcliffe, received Premier League and Football Association approval last week and was officially confirmed on Tuesday night.
Sir Jim Ratcliffe said: “To become co-owner of Manchester United is a great honour and comes with great responsibility.
“This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans.
“Work to achieve those objectives will accelerate from today.”
Ratcliffe has agreed to pay US dollars 33 (£26) per share for a quarter of the Class A shares, as well as paying that price for 25 per cent of the Class B shares held by the Glazer family. Each Class B shares confers 10 times as many votes as a Class A share.
The deal was announced on Christmas Eve and the agreement to buy a 27.7 per cent stake in the club also includes investing an additional 300 million US dollars (£237m) into the club’s infrastructure, taking the total investment to £1.25billion.
United co-chairman Joel Glazer said: “I would like to welcome Sir Jim as co-owner and look forward to working closely with him and Ineos Sport to deliver a bright future for Manchester United.”
The billionaire Ratcliffe, who was born in Failsworth in Greater Manchester in October 1952 and says he was “around 10” when he first went to a United match, has been a frequent visitor as Ineos prepares to take responsibility for footballing operations at United.
Ratcliffe also attended the annual memorial for the Munich air disaster at Old Trafford on February 6.
Sir Dave Brailsford, Ineos’ director of sport, has also been a regular presence around the club and is expected to play a key role.
United’s statement last month confirming the shock appointment of Manchester City’s Omar Berrada as chief executive stressed that approach.
The Red Devils have also been strongly linked with Dan Ashworth, who has left his role as sporting director at Newcastle and placed on garden leave by the Tyneside club.
The completion of the deal marks the conclusion of a saga which began back in November 2022 when the Glazers announced plans for a strategic review which could include the sale of the club.
Ratcliffe, along with Qatari businessman Sheikh Jassim, were the front-runners when it became apparent a full sale would be considered, but the latter withdrew last October.
Ratcliffe’s focus shifted to the purchase of a significant minority stake, which has finally been completed on Wednesday.
Dortmund have flown under the radar to reach Champions League final, says Terzic
Borussia Dortmund have benefited from going under the radar during their "unbelievable road" to the Champions League final, according to head coach Edin Terzic.
The Black and Yellow will play either Real Madrid or Bayern Munich in the showpiece on June 1, following a hard-earned 2-0 aggregate win over Paris Saint-Germain in the last four.
Dortmund came into this season on the back of a bitter Bundesliga title loss on the final matchday of the previous campaign, with a 2-2 draw against Mainz handing the title to Bayern on goal difference.
While Terzic's side have been unable to launch a genuine challenge on the domestic front this term - currently occupying fifth place and 24 points adrift of newly crowned champions Bayer Leverkusen - it has been a different story in Europe.
"There is always a team that no one has on their radar that reaches the quarter-finals or the semi-finals," he said. "We wanted to be the team that were not necessarily on anyone's radar. That road has been unbelievable."
Indeed, it has. Dortmund began their campaign with a 2-0 defeat at PSG and goalless draw at home to Milan, but recovered to top Group F before seeing off PSV and Atletico Madrid in the round of 16 and quarter-finals respectively.
The 1997 Champions League winners then produced a defensive masterclass across both legs of their semi-final with PSG, to reach their first final since 2013.
"After the second matchday, almost no one believed in us any more," said captain Emre Can, who made his 50th Champions League appearance during the second leg at Parc des Princes.
"We only had one point after two matches, but we kept believing and that was the most important thing. Keeping two clean sheets in two matches against PSG is no mean feat."
Mbappe admits 'I didn't do enough' following PSG's Champions League exit
Kylian Mbappe shouldered the blame for Paris Saint-Germain's 1-0 defeat to Borussia Dortmund on Tuesday, which saw them exit the Champions League semi-finals 2-0 on aggregate.
Mbappe, who is set to leave PSG at the end of the season, was unable to inspire the Ligue 1 champions as they fell short in their latest quest to land the European crown.
The France captain registered a game-high three shots on target and 12 touches in the opposition box during the second leg at Parc des Princes, but his tally of just 51 touches overall was the second-lowest recorded by any PSG player.
And the 25-year-old admitted he should have made a more significant contribution towards his team's cause.
"I tried to help my team as best as I could, but I didn't do enough," he said. "I'm the guy who should score goals and be decisive. When things are good, I take all the limelight and when they are not, you have to take the shadow.
"That's not a problem. The first one who should have scored tonight was me. That's life, and we have to move on - me and the team."
PSG enjoyed the lion's share of possession (69.5 per cent) during the second leg and registered four times as many shots as their opponents did (30 to seven), hitting the woodwork four times.
"In decisive Champions League matches, when you're not effective in both boxes, it's difficult to get through to the next round," Mbappe added. "Even more so when we're talking about a final.
"We're certainly disappointed, but it's not all doom and gloom. We need to build on that and keep working, because I'm sure we'll get there."
Luis Enrique 'proud' of PSG despite Champions League semi-final exit
Luis Enrique expressed his pride at the efforts of his Paris Saint-Germain side, despite their Champions League exit at the hands of Borussia Dortmund.
The Ligue 1 champions were knocked out in the semi-finals on Tuesday after a 2-0 aggregate loss to the Bundesliga giants, having hit the woodwork six times over the two legs - making it a record tally of 14 for the campaign - and managed 31 attempts at Parc des Princes.
PSG missed a golden opportunity to reach their second Champions League final, but it is not all doom and gloom after a season of transition with a new coach.
The Ligue 1 title is already in the bag with three matches remaining, and they have a Coupe de France final showdown with Lyon to come later this month.
"We were not inferior over the two legs, but football rewards those who score - not those who hit the woodwork," Luis Enrique said.
"My goal was to be fighting for all the titles. Tonight I'm proud of my team, of all the players."
PSG have now lost all six legs of their three two-legged Champions League semi-finals, after double defeats against Milan in 1995 and Manchester City in 2021.
The year they reached the final, in 2020, they beat RB Leipzig in a one-off semi-final after COVID-19 disrupted the season, before losing out in the final to Bayern Munich.
This season started with a new coach in Luis Enrique and without Lionel Messi and Neymar, as club president Nasser al-Khelaifi put an emphasis on building a team over individual talents.
While not always brilliant, PSG have looked like an organised outfit and the coach said he was already working on building a team without Kylian Mbappe, who is widely expected to leave at the end of the campaign.
"The players and coach gave their all," Al-Khelaifi said. "Congratulations to Dortmund, we deserved better. It's a tough game. I'm proud of my team, the youngest in Europe.
"We've reached the semi-finals three times in five years. That's not our objective; it's still the final. That's soccer; you have to accept it and sometimes it's not fair. We'll accept it."
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