Executive co
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Ratcliffe Completes Manchester United Share Acquisition To Become Co-owner
By
IANS News
February 21, 2024 • 09:58 AM View: 627
New York Stock Exchange: Sir Jim Ratcliffe's deal to buy a 27.7% stake in Manchester United has been completed, following the satisfaction of all conditions, including approvals from the Football Association and the Premier League, the club said.
The 71-year-old Ratcliffe has completed his acquisition of 25% of the club’s Class B shares, largely held by the Glazer family, which contain almost all the voting rights, and 25% of the club’s Class A shares, which are listed on the New York Stock Exchange.
"Following the closing of the Offer and the acquisition of the Class B shares, Sir Jim has invested $200 million into the club for additional Class A and Class B shares via a primary issuance, resulting in ownership of approximately 27.7% of the club’s Class A shares and 27.7% of the club’s Class B shares, with a further $100 million to be invested by 31 December 2024. These funds are intended to enable future investment in infrastructure at Old Trafford," the club statement read.
TAGS
Manchester United Sir Jim Ratcliffe Football Association Premier League New York Stock Exchange Sir Jim Old Trafford The Glazer Ineos Group Manchester United PLC Manchester United Football Club Joel Glazer Executive Co INEOS Sport
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