Manchester United on Sunday announced a milestone agreement wherein INEOS Chairman Sir Jim Ratcliffe is set to acquire a substantial 25% share in the club. 

The deal involves Ratcliffe’s company purchasing 25% of the Class B shares currently held by the Glazer family, who have been the owners of Manchester United since 2005. 

Additionally, Ratcliffe will initiate a tender offer to acquire up to 25% of the Class A shares.

Under the terms of the agreement, the Glazers and other Class A shareholders will receive $33 per share. As a pivotal aspect of this deal, INEOS will assume responsibility for managing various facets of United’s football operations, encompassing the men’s and women’s teams as well as the academies.

Expressing their satisfaction with the agreement, United co-chairmen Avram and Joel Glazer conveyed in a statement, “We are delighted to have agreed on this deal with Sir Jim Ratcliffe and INEOS. Sir Jim and INEOS bring commercial experience and significant financial commitment into the club.”

Jim Ratcliffe, a lifelong fan of Manchester United, expressed his pleasure at reaching an agreement that grants INEOS “management responsibility of the football operations.” 

He further emphasized a shared ambition to see Manchester United reclaim its position at the summit of English, European, and global football.