Man United Ownership Update: Sir Jim Ratcliffe Increases Stake
Legendary British billionaire Sir Jim Ratcliffe has just upped the ante with his stake in Manchester United, according to recent filings from the U.S. Securities and Exchange Commission. This savvy businessman has poured a hefty £79 million ($99.6m) into snapping up an additional 1.24% of the club. This new investment brings his ownership to 28.94%, slightly edging up from his initial 27.7% stake that he nabbed in December of last year.
It’s important to note that while Ratcliffe is flexing his financial muscles at United, the Glazer family, who acquired the club back in 2005, still remain the prominent majority owners. Ratcliffe has made a power move by transferring the shares to his INEOS company, reflecting his strategic approach to managing his investments.
Recent reports suggest that Sir Jim Ratcliffe won’t be splurging the freshly amassed funds in the upcoming January transfer window. Instead, the money is expected to be dispersed throughout the club. This disciplined approach aligns with the cost-cutting measures previously implemented by Ratcliffe, which unfortunately resulted in the layoff of over 250 employees.
Fans have had mixed reactions to Ratcliffe’s involvement with the club. While many appreciate his financial backing, others have criticized him for unpopular decisions, including ticket price hikes and a perceived lack of investment in the women’s team. Moreover, his involvement in contractual decisions, such as extending Erik ten Hag’s tenure only to backtrack on that decision shortly after, has raised eyebrows among supporters.
Despite the ongoing debate surrounding Sir Jim Ratcliffe’s ownership, it’s evident that his influence at Manchester United is significant. Whether his stake will lead to long-term success for the club remains to be seen, but one thing is for sure: his financial maneuvers are making waves in the world of football.
