Christmas Gift for MU Fans, Sir James Ratcliffe Takes 25% of Lifestyle Shares – 17 hours ago

Jakarta, CNBC Indonesia – Finally, the acquisition of Manchester United (MU) shares also occurred. MU announced that it had agreed to release 25% of its shares to a new investor, Sir Jim Ratcliffe.

This announcement seems to be a Christmas gift for Red Devils fans as well as ending the confusion over the sale of Manchester United. In November last year, the Glazer family as owners stated their intention to sell or look for new investors.

Initially Sheikh Jassim from Qatar made a fantastic offer to take over full ownership. But the Glazer family preferred to accept a proposal from Sir Jim Ratcliffe, which meant giving up 'only' 25% of the club's shares.

Sir Jim Ratcliffe, boss of chemical company Ineos and originally from Greater Manchester, splashed out £1.25 billion on that portion. It will also provide around £236 million for investment into the Old Trafford stadium.

In return, Sir Jim Ratcliffe through his Ineos group will take over control of the club's operations. This transaction itself will still take time to complete, but the club hopes it can be completed as soon as possible.

“While the club's commercial success has ensured there are always funds available to win trophies at the highest level, its potential has not been fully unlocked in recent times,” said Sir Jim Ratcliffe in a statement on the club's official website.

“We will bring in global knowledge, expertise and talent from the wider Ineos Sport group to help drive further development at the club, while providing funding to enable future investment at Old Trafford.”

Manchester United have struggled since Sir Alex Ferguson left, the figure who practically carried the club until 2013. They have never won the Premier League again since he left.

This season, MU's performance experienced another setback after finishing in the top four and winning the English League Cup in 2022/2023. The entry of Sir Jim Ratcliffe could also mean that Erik ten Hag's future as a manager is evaluated differently.

[Gambas:Video CNBC]