Manchester United's potential partnership with Sir Jim Ratcliffe is one step closer to becoming a reality. The Premier League has given its approval for Ratcliffe to acquire a 25% stake in the club, marking a significant development in this proposed deal. The announcement came through an update filed by the club to the United States Securities and Exchange Commission (SEC), which ensures investor protection and market fairness.
While the Football Association's approval is still pending, sources have indicated that the process is progressing positively towards completion. United has extended the deadline for tender offers to A shareholders from February 14 to February 16, at 11:59 p.m. ET. With 36.7% of A shares already tendered, Ratcliffe has already crossed the threshold required for his 25% stake.
Sources suggest that the deal could be finalized as early as next week, with most considering it to be a mere formality at this stage. Ratcliffe first announced his minority investment in Manchester United on Christmas Eve, alongside the news that his company, INEOS, would assume management of the football side of the business.
Since the announcement, Sir Dave Brailsford, the director of sport at INEOS and a renowned figure in British cycling, has been actively involved at the club's training ground in Carrington. Meetings have been held between Brailsford, Ratcliffe, manager Erik ten Hag, as well as various staff and fan groups. Brailsford has also been seen in the stands at several games, demonstrating their commitment to the club.
It is evident that Ratcliffe's investment in Manchester United has generated excitement and anticipation among fans. While the necessary final approvals are still pending, the club and its supporters eagerly await the potential benefits and future prospects this alliance could bring.
