Sir Jim Ratcliffe has had a good week at Manchester United with a double approval for his investment in Manchester United.
It was back on Christmas Eve that Manchester United announced that Sir Jim Ratcliffe will purchase a 25 per cent stake in the club, via his firm Ineos.
Now as we reach mid-February, it is a big step closer to being official, with the Premier League granting approval, quickly followed by the FA.
BBC Sport report: “The sale cannot be completed until after the share offer is closed, which is Friday night in the United States.”
Premier League owners test
Billionaire Sir Jim Ratcliffe will be celebrating as his big investment into the biggest club in world football approaches completion. And in the process, he has achieved a first.
The Premier League state that Ratcliffe is the first investor to be assessed and approved since new football governance rules came in last year.
“This is the first acquisition of Control to be reviewed and approved by a new Independent Oversight Panel following changes to the process which were agreed by Premier League clubs in March 2023,” the statement reads.
Manchester United fans demanded stronger governance
Way back in 2005, it was the view of many Manchester United fans at the time that the Glazers should never have been allowed to buy the club.
The haphazard way they have operated in the two decades since only served to reinforce that view, with the club loaded with more debt than ever, and owing a staggering amount in transfer fees.
Whether they would have passed these new tests is unclear, but we can be thankful that Ineos have been granted the green light.
Their investment is ‘only’ 25 per cent, however, they are being granted real control by the Glazers, with fans hoping it will lead to a total buyout later down the line.
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