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Ratcliffe Completes Manchester United Share Acquisition To Become Co-owner

By IANS News February 21, 2024 • 09:58 AM View: 585

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.

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