Sir Jim Ratcliffe has vowed to return Manchester United to “the very top of English, European and world football” after agreeing a £1.25billion deal to buy a 25 per cent stake in the club.
The Old Trafford outfit announced on Christmas Eve that the chairman of INEOS, who will assume delegated responsibility for football operations, had entered into an agreement, which is “subject to customary regulatory approvals”, which will also see him invest US dollars 300million – more than £236million – to refurbish the debt-laden club’s infrastructure.
However, it is boyhood fan Ratcliffe’s promise to put United “back where we belong” which will excite fans who have been in open revolt against owners the Glazer family, who launched a strategic review of the business in November last year.
Ratcliffe said: “As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football operations of the club.
“Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
Under the agreement, INEOS will acquire 25 per cent of the Class B shares owned by the Glazers and tender an offer for up to 25 per cent of the Class B shares at USD33 each in a deal which will not add to the club’s existing debt.
In addition, he will inject USD200million – £158million – on completion to upgrade Old Trafford and a further USD100million – £79million – by the end of 2024, taking his total investment to around £1.25billion.
Executive co-chairmen and directors Avram Glazer and Joel Glazer, who announced a strategic review 13 months ago, said: “We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS.
“As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and academy teams.
“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.
“Manchester United has talented people right across the club and our desire is to always improve at every level to help bring our great fans more success in the future.”
Ratcliffe found himself engaged in a lengthy battle with Qatari businessman Sheikh Jassim after it became apparent that the club – or ultimately part of it – could be up for sale.
Sheikh Jassim withdrew his bid for full control in October with a long-running saga showing little sign of reaching a conclusion until Ratcliffe’s focus shifted to the pursuit of a significant minority stake.
The deal was announced by United at 4pm on Sunday in a statement which read: “The joint ambition is to create a world-class football operation building on the club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy.”
The Red Devils have not lifted the Premier League trophy since 2012-13, Sir Alex Ferguson’s last season at the helm, and last won the Champions League in 2008.
Confirmation of INEOS’ investment was given a guarded welcome by the Manchester United Supporters Trust.
A statement read: “Today might – just might – be a step forward for Manchester United after some very difficult years. But with the Glazers still in charge, people should understand that United fans will remain sceptical and wait for the proof in the pudding.”
Former United defender Gary Neville was less than impressed by the timing of the announcement.
“Manchester United 2023 has been a disgrace to the end,” he wrote on X.
“The timing of this is truly awful and no functioning organisation would even think about it.
“Anyway all the very best to Jim Ratcliffe and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch.”
Sessegnon rejoins boyhood club Fulham after Tottenham departure
Ryan Sessegnon has resigned for Fulham on a free transfer, five years after leaving the club.
The 24-year-old signed a two-year contract with the Cottagers with the option to extend for a further year following his departure from Tottenham last month.
In his first spell at the club, Sessegnon worked his way through the academy over 11 years, scoring 25 goals in 120 first-team appearances.
He then moved to Spurs in a £25million deal in 2019, though struggled to nail down a place in North London, making just 57 appearances in all competitions, and scoring three goals.
"It's amazing to be back. Emotional, as well," he told FFCtv. "It's where it started for me, where everything began, and it's amazing to be back.
"It will always be home for me. I think it had the feeling that it was meant to be, coming back here, so I'm delighted to get it done."
Sessegnon is Fulham's first signing of the transfer window, though they have seen plenty of first-team departures already, with Joao Palhinha, Tosin Adarabioyo and Bobby De Cordova-Reid all leaving the club.
Dewsbury-Hall: Maresca will surprise people at Chelsea
Kiernan Dewsbury-Hall believes new Chelsea manager Enzo Maresca will "surprise a lot of people" when they watch the Blues this season.
The Italian led Leicester City straight back to the Premier League as Championship winners in his only season in charge and succeeds Mauricio Pochettino at Stamford Bridge.
The Foxes topped the second division table with 98 points, with Dewsbury-Hall a key figure in his squad as he netted 12 goals and provided 14 assists last season – his best tally in a single campaign.
Dewsbury-Hall was also named Leicester's Player and Players' Player of the Year.
The midfielder made the switch to West London earlier this month for £30million and is confident that Maresca will have Chelsea challenging for trophies in no time.
"The manager was a big catalyst in wanting me to come," Dewsbury-Hall told BBC Sport.
"I knew from Leicester, a club that went down and had a lot of problems, how he managed to galvanise that if everyone manages to buy into the system.
"I genuinely think in a short space of time we can be pushing for minimum top four - but more than that.
"He may be unknown for a lot of people, but he is top, top level. He will surprise a lot of people."
Chelsea's pre-season got off to a frustrating start as they were held to a 2-2 draw by League One side Wrexham in Maresca's first game in charge on Wednesday.
Dewsbury-Hall did not play in that match but is training with the squad in the United States and could feature in their next outing against Celtic on Saturday.
The 25-year-old is confident the manager's tactics will come across soon, with the players buying into his style.
"We've only been doing it for two or three weeks, but the combination plays are really quick and tidy," he added.
"That's after two weeks. I remember he said to us at Leicester after six months or a year, there might be teething problems at the start, but it will improve.
"Within the first week at Leicester, I was convinced this was top, top level. I felt a bit stupid; I thought I knew a lot about football, but he was teaching me things on a daily basis that I didn't really know before. He has an aura, he can be strict, or gentle and soft - he has both sides.
"I am getting the same feedback here with the lads. They've bought into it here from minute one which is exciting. With a system and philosophy, you need everyone to buy in because, if they do, you can really achieve something."
Ederson slams reports of rift with Man City backup Ortega
Ederson has hit out at reports of a rift between himself and fellow Manchester City goalkeeper Stefan Ortega.
The Brazilian was substituted after suffering a fractured eye socket in City's penultimate game of the Premier League season, a vital 1-0 win over Tottenham.
Ortega replaced him and made a brilliant save to deny Son Heung-min as City maintained their slender lead over Arsenal at the top of the table, sealing an unprecedented fourth straight title by beating West Ham five days later.
Ortega was widely lauded for his role in that triumph, and an article published by The Athletic this week suggested Ederson took issue with that praise.
However, the goalkeeper – who missed the Copa America as a result of his injury – has now moved to shut down those suggestions with a post to his Instagram story.
"I would like to clarify that the note published by The Athletic yesterday, referring to my alleged dissatisfaction with a co-worker, is completely false," he wrote.
"The alleged day reported was, without a doubt, one of the most difficult days of my career, when I suffered a fracture that prevented me from playing in the final stretch of the season and, consequently, from representing my country in the Copa America.
"At the time of the injury, my only thought was to continue in the match, defending City in the fight for the title.
"But the emotion of the match would be greater than the reality and, inevitably, I would not be able to continue as I would have liked due to the damage it caused, completely blocking my field of vision. I remain focused on preparing for the season."
Ederson has been linked with a transfer in recent days, reportedly attracting interest from Saudi Pro League clubs.
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