Sir Jim Ratcliffe has increased his stake in Manchester United after injecting a further £79.3m ($100m) as he committed. He bought a minority stake last year
The British billionaire now owns 28.94% of the club, up from 27.7%. The latest investment is set to help fund improvements off the pitch rather than help strengthen Ruben Amorim’s squad in the January transfer window. When Ratcliffe bought into United a year ago, the deal included a guarantee that he would put £238m ($300m) into infrastructure and this is the final installment of that payment, which the US Securities and Exchange Commission confirmed on Wednesday had been paid.
SEC filings show that Ratcliffe transferred his stake in United to Inos from Trawlers Ltd., the company that bought the original stake from the Glazer family. This means United are now part of the wider Sporting Group, which is also owned by Ineos A cycling and sailing team.
Ratcliffe made several key decisions in an attempt to return United to their former heights as one of the most successful clubs in the world. Chief Executive Omar Berrada, Technical Director Jason Wilcox and, for five months, Dan Ashworth as sports director. Amorim was brought in to replace Erik ten Haag, who was fired in November.
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Cost cutting has been a key remit for Ratcliffe, resulting in 250 employees are leavingAnd Ambassadorial role of Sir Alex Ferguson will be Conclusion at the end of the season As part of cost-cutting measures. There are also minority owners received criticism for one Mid-season ticket price increase and removal of exemptions for children and pensioners for residual fixtures.
