Manchester United plc reaches agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the Company.
- Acquisition of 25% of the Class B shares held by the Glazer family
- Offer to acquire up to 25% of all Class A shares
- The Glazer family and Class A shareholders will receive the same price of $33.00 per share
- Further investment of $300 million in the Club
- INEOS delegated responsibility for management of football operations
- Completion of this deal is subject to receiving all necessary regulatory approvals including from the Premier League
Manchester United plc (NYSE: MANU) announced today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford.