The English Premier League confirmed today, Tuesday, the acquisition of a 25 percent stake in Manchester United by British billionaire Sir Jim Ratcliffe, after he passed the "Owners' and Directors' Test" of the League. The League stated in a release, "The acquisition of 25 percent of Manchester United Football Club by Sir Jim Ratcliffe and an investment of $300 million in the club has been approved by the Board of the English Premier League after passing the Owners' and Directors' Test."
It added, "The Board approved last week a change in the ownership structure of the club, and this has now been officially ratified by an independent scrutiny committee. The Premier League owners' charter has also been signed... the League is now awaiting confirmation of the completion of the deal."
The League noted in its statement that this is the first acquisition subject to review and approval by a new independent scrutiny committee, as part of process changes approved by Premier League clubs in March 2023. The deal, valued at $1.25 billion, involves the INEOS Group chairman investing $300 million in the club's infrastructure and overseeing its football operations, which was finalized last December.
