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.”
West Ham 2-2 Liverpool: Antonio header damages Reds' dwindling title chances
Liverpool suffered another blow to their dwindling Premier League title hopes as Michail Antonio's late header snatched a 2-2 draw for West Ham at London Stadium.
Jurgen Klopp's side disappointed in Wednesday's 2-0 defeat against Everton, with Jarrod Bowen's goal and assist inflicting further pain for the Reds on Saturday.
Liverpool responded well to Bowen's first-half opener, edging ahead through Alphonse Areola's own goal after Andy Robertson's 48th-minute leveller, only for Bowen to tee up Antonio's headed equaliser 13 minutes from time.
This draw left Liverpool two points behind leaders Arsenal ahead of the Gunners’ Sunday meeting with Tottenham and one behind Manchester City – who have two games in hand on the Reds – while West Ham remain eighth.
A tepid opening befitted two sides struggling for form as both failed to carve out any gilt-edged opportunities.
Liverpool wanted a 27th-minute penalty for Angelo Ogbonna's tackle on Cody Gakpo and, though an offside call against Luis Diaz silenced those appeals, that passage livened the game up.
Harvey Elliott's curling attempt was held by Areola after Vladimir Coufal went close at the other end, before Diaz blasted a low strike against the West Ham goalkeeper's right-hand post.
Bowen saw a deflected drive parried behind by Alisson but the West Ham forward headed Mohammed Kudus' left-wing delivery into the far corner from the resulting set-piece two minutes before the break.
Ryan Gravenberch flashed a powerful half-volley over immediately after the interval – and West Ham did not heed that warning sign.
Diaz cut inside from the left to find Robertson before a slight deflection off Lucas Paqueta saw Areola caught off-guard as the left-back found the bottom-left corner via the post.
Gravenberch arrowed narrowly wide before one-way traffic finally paid dividends midway through the second half when Gakpo's miscued strike from Trent Alexander-Arnold's corner forced Areola to turn into his own net after a deflection off Tomas Soucek.
Alisson kept his side ahead with a remarkable stretching stop to thwart Emerson's volley, yet the Liverpool goalkeeper was powerless when Antonio headed into the top-right corner from Bowen's right-wing centre.
Elliott almost snatched all three points in the 89th minute but his dipping effort found the top of the crossbar rather than the right-hand corner from long range.
Reds falter once again
Under Klopp, Liverpool have only won more Premier League games against Crystal Palace (13) than West Ham (12).
Yet the visiting Reds faltered once more as what appeared to be a promising season continues to unravel in disappointing fashion for Klopp's final campaign.
Having threatened an unlikely quadruple at the start of March, Liverpool now require a minor miracle – and slip-ups from Man City and Arsenal – to muster a slight shot at the title.
Bowen on target but West Ham struggle at home
Bowen had already found the net in the Premier League and EFL Cup against Liverpool this season and became just the second West Ham player to score in three different games with the Reds in a single campaign – after Geoff Hurst in 1964-65.
His well-taken headed opener eased the nervous home crowd, yet this draw left West Ham with just one win from their last nine Premier League home games.
That concerning home form may be what costs David Moyes’ side a higher finish. The Hammers trail seventh-placed Newcastle United by a point, despite the Magpies playing two games fewer.
Postecoglou not motivated by denting Arsenal's title hopes in north London derby
Ange Postecoglou insists Tottenham must focus on themselves heading into the north London derby with Arsenal, rather than on denting their rivals' Premier League title hopes.
With four matches remaining, the Gunners are a point clear at the summit from reigning champions Manchester City, who still have a game in hand on Mikel Arteta's side in second place.
While Arsenal look to stay very much in the hunt for a first league crown in 20 years, fifth-place Tottenham will aim to reduce their six-point deficit to fourth-place Aston Villa, on whom they have two games in hand.
Spurs are winless in the last three north London derbies - winning just one of the most recent six - though they twice came from behind to earn a point in September's reverse fixture at the Emirates Stadium.
And Postecoglou has his sights firmly set on beating his side's rivals, and says his players are not driven by the prospect of thwarting their opponents' title bid.
"Not in terms of that as a motivation," he said when asked if he would like to dent Arsenal's title hopes.
"I understand the importance of winning against your traditional rival. I never believe your motivation should revolve around the demise of somebody else.
"Your motivation should be about yourself. We can win on Sunday, but it doesn't mean we are title contenders this year. I want to win because I want us to progress. I want us to be in a position fighting for the title.
"If that's your kind of measure, always peering over the back fence to see what your neighbour's building, you could both have the worst houses in the street because everyone else is building beautiful places, and you're looking over the back fence."
Leicester City seal automatic Premier League return
Leicester City are once more a Premier League team, having bounced straight back after relegation last season.
The Foxes secured automatic promotion without kicking a ball, as title rivals Leeds United lost 4-0 away to Queens Park Rangers on Friday.
Marti Cifuentes' Hoops side gave their fans a reason to cheer in their final home game of the season, and the emphatic win means they are now seven points clear of the relegation zone.
The Hoops boss told BBC Sport: "I came here, perhaps I was crazy thinking we could manage the great escape.
"The atmosphere has been unbelievable since I came here. Everybody thought tonight could be a special night to achieve our target.
"Big players deliver big performances and our players all did that tonight."
Defeat ensured only Ipswich Town can now finish above Leicester, meaning the Foxes will be back in the big time.
Ipswich, who have three games left to play, face play-off hopefuls Hull City on Saturday.
Speaking to BBC Sport, Leeds boss Daniel Farke said: "It's not in our hands any more [automatic promotion], we need to be honest.
"The race is not over. If Ipswich win the next two games then I will say congratulations, but if they don’t win them then we will have a lot to play for.
"As long as we have a chance, I’m far away from giving up."
Leicester could be crowned champions if they beat Preston North End on Monday and if Hull beat Ipswich.
The Foxes are looking to break the 100-point barrier, despite a wobble from Enzo Maresca's side in recent months.
After they had been so far ahead and top for all but two of the 176 days between 23 September and 17 March, an untimely dip in form handed Leeds and Ipswich hope.
However, while Leicester celebrate their promotion, they face the daunting prospect of starting next season with a points deduction, after they were charged by the Premier League with alleged breaches of the competition's Profit and Sustainability Rules (PSR).
SportsMax is the Caribbean sports channel of choice, committed to providing sporting content of the highest quality to the Caribbean, delivered by a team of highly innovative, passionate and qualified professionals.
(876) 619-7629
digitalmedia@sportsmax.tv
