Jim Ratcliffe’s 25 per cent stake finally approved by FA and Premier League : The Premier League and the FA have finally granted Sir Jim Ratcliffe’s request to purchase a 25 percent share at Old Trafford for Manchester United.
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After an independent examination, Sir Jim Ratcliffe’s minority buyout at the club was authorized on Tuesday. The billionaire from Manchester is now expected to own a 25% share in the squad going forward. On Wednesday, the agreement was also accepted by the Football Association.
The Premier League released a statement that read:
“‘Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United FC, and further investment of $300 million in the club, has been approved by the Premier League Board following the completion of the Owners’ and Directors’ Test (OADT).
“The Board agreed to the change of the club’s ownership structure last week, and this has now been officially ratified by an Independent Oversight Panel.
“The Premier League’s Owners’ Charter has also been signed. 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 Premier League now awaits confirmation of the transaction’s completion.”
Ratcliffe passed the Premier League’s Directors’ and Owners’ exam after completing the original agreement to purchase the club part back in December. Even though he only has a small ownership stake at Old Trafford, the 71-year-old is expected to have total authority over football operations. When Ratcliffe completes his acquisition of Class A shares at the end of the week, the transaction is anticipated to be completed.
For the time being, United will try to maintain their impressive performance on the pitch after winning late against Aston Villa last weekend. Erik ten Hag’s side is now unbeaten in five games in all competitions and will face Luton Town in their next match.
