The exact amount of the deal is not yet clear. The BBC says £103m, the Guardian says a little over £100m. According to Sky Sports, the figure is 120 million pounds. Anyway, Sir Jim Ratcliffe bought 25 percent of Manchester United for about 14 thousand crore rupees.
Why are United fans happy with the news? Because, even after buying a 25 percent share, Ratcliffe’s Ineos Group will look after United’s football operations from now on. And the British billionaire will give another 266 million pounds for the development of Old Trafford.
Despite yesterday’s announcement, United’s ownership remains with the Glazer family of the United States. In 2005, this family bought the ownership of United for 79 million pounds. Even though they bought 69% of the shares on paper, they bought all the voting shares, and the ownership of United went into their hands.
United’s on-field success has been lost under the Glazers. Although they finally won the League Cup last season, it has been 10 years since their last league win. United finally decided to sell first in November 2022 in the face of supporters’ agitation. In addition to Sir Jim Ratcliffe, Sheikh Jassim bin Hamad Al Thani of Qatar showed interest.
However, Ratcliffe did not want full ownership, while Al Thani was interested in 100% ownership. The Glazer family did not accept an offer worth close to 5 billion pounds. As a result, the member of the Qatari royal family withdrew his proposal in October.
Manchester-born Ratcliffe unsuccessfully tried to buy Chelsea last year. Ratcliffe, who claims to be a fan of United, said that the club is financially capable but has failed to show that ability on the field in the recent past. He has promised to bring back the success of United’s golden past. Even if the announcement comes tomorrow, it will take another six to eight weeks for the deal to be signed.