Sir Jim Ratcliffe FINALLY completes 27.7 percent takeover of Man Utd
SIR JIM RATCLIFFE says his work to return Manchester United to the top flight of English football begins now.
His £1.3 billion takeover of 27.7 percent of the club is now officially complete.
The deal was approved by the Premier League last week and ALSO received FA approval.
Sir Jim said: “Becoming part owner of Manchester United is a great honor and comes with great responsibility.
“This marks the completion of the transaction, but just the start of our journey to return Manchester United to the pinnacle of English, European and world football, with world-class facilities for our fans. The work to achieve these objectives will will gain momentum from today.” .”
And executive co-chairman Joel Glazer said he looks forward to a “bright future” now with Ratcliffe on board.
Joel Glazer said: “I would like to welcome Sir Jim as co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United.”
His ownership will increase to 27.7 percent following the initial capital investment of $200 million with the issuance of new shares and then to 28.9 percent on December 31 after a further investment of $100 million.
Ratcliffe had already taken charge of football operations at the club.
He has wasted no time in making big appointments at Old Trafford's top flight too.
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The INEOS chief has already poached Manchester City CEO Omar Berrada.
He is now negotiating to release Dan Ashworth from his contract at Newcastle United to become Old Trafford's new sporting director.
He has already looked at plans to build a brand new 'Wembley of the North' to replace Old Trafford and make changes to Carrington's training ground.
Ratcliffe's positive steps have already given United a 'new energy'.
Since his involvement was first officially announced on Christmas Eve, United have won seven and drawn one of nine in all competitions.
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