JIM RATCLIFFE HAS has increased his stake in Manchester United to nearly 29% after completing the cash injection promised when purchasing his minority stake in the Premier League club.
On Christmas Eve last year it was announced that the Ineos chairman had agreed a deal to buy 25% of the club, including investing a further $300 million (€288m) into infrastructure.
That deal was ratified in February and the Securities and Exchange Commission has confirmed that the final $100m (€96m) was paid on Wednesday.
Ratcliffe receives additional shares in return for that payment, taking his ownership from 27.70% to 28.94%.
The €96m injection is part of the commitment to helping to turn the club around and it’s understood it is for infrastructure investment rather than bolstering January transfer funds.
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The SEC filing published on Thursday also confirmed that all of Ratcliffe’s shares in United are being transferred to INEOS from Trawlers Ltd, which bought the stake from the Glazer family.
Ratcliffe has made what he calls “difficult and unpopular decisions” since becoming co-owner at a club he felt had become “mediocre”.
He recently told the United We Stand fanzine that they “need to sweat every pound” and said “To get Manchester United to where we need to get it — it’s a bit like the country, we have to make some difficult and unpopular decisions.
“If you shy away from the difficult decisions then nothing much is going to change.
“We won’t get everything right and it won’t happen overnight, but we haven’t been sat on our hands for nine months. There has been a lot of change.”
- Everton takeover -
Meanwhile, Everton’s takeover by the Friedkin Group has been confirmed.
A statement issued by the club on Thursday morning said the Toffees had been acquired by Roundhouse Capital Holdings Limited, an entity within the Friedkin Group.
The club said the deal had received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association and the Financial Conduct Authority.
The Premier League’s statement confirmed the Friedkin Group had purchased a 98.8% stake in Everton.
It marks the end of a turbulent period for the club under the ownership of Farhad Moshiri.
The club have twice been sanctioned under the Premier League’s profitability and sustainability rules (PSR) in the last 13 months, and had eight points in total deducted last season.
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Jim Ratcliffe increases Man United ownership stake to nearly 29%
JIM RATCLIFFE HAS has increased his stake in Manchester United to nearly 29% after completing the cash injection promised when purchasing his minority stake in the Premier League club.
On Christmas Eve last year it was announced that the Ineos chairman had agreed a deal to buy 25% of the club, including investing a further $300 million (€288m) into infrastructure.
That deal was ratified in February and the Securities and Exchange Commission has confirmed that the final $100m (€96m) was paid on Wednesday.
Ratcliffe receives additional shares in return for that payment, taking his ownership from 27.70% to 28.94%.
The €96m injection is part of the commitment to helping to turn the club around and it’s understood it is for infrastructure investment rather than bolstering January transfer funds.
The SEC filing published on Thursday also confirmed that all of Ratcliffe’s shares in United are being transferred to INEOS from Trawlers Ltd, which bought the stake from the Glazer family.
Ratcliffe has made what he calls “difficult and unpopular decisions” since becoming co-owner at a club he felt had become “mediocre”.
He recently told the United We Stand fanzine that they “need to sweat every pound” and said “To get Manchester United to where we need to get it — it’s a bit like the country, we have to make some difficult and unpopular decisions.
“If you shy away from the difficult decisions then nothing much is going to change.
“We won’t get everything right and it won’t happen overnight, but we haven’t been sat on our hands for nine months. There has been a lot of change.”
- Everton takeover -
Meanwhile, Everton’s takeover by the Friedkin Group has been confirmed.
A statement issued by the club on Thursday morning said the Toffees had been acquired by Roundhouse Capital Holdings Limited, an entity within the Friedkin Group.
The club said the deal had received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association and the Financial Conduct Authority.
The Premier League’s statement confirmed the Friedkin Group had purchased a 98.8% stake in Everton.
It marks the end of a turbulent period for the club under the ownership of Farhad Moshiri.
The club have twice been sanctioned under the Premier League’s profitability and sustainability rules (PSR) in the last 13 months, and had eight points in total deducted last season.
To embed this post, copy the code below on your site
Everton Friedkin Group Jim Ratcliffe Manchester United Premier League Soccer