The English Football Association has given the green light today, Wednesday, for British billionaire Jim Ratcliffe to acquire a 25% stake in Manchester United, making the deal almost finalized. The FA confirmed its approval in a statement after the English Premier League endorsed the acquisition deal a day earlier, following Ratcliffe (71) passing its owners and directors test.
Ratcliffe entered into a deal worth $1.25 billion in December to purchase a minority stake in the club and plans to invest $300 million in infrastructure development. As part of the deal, lifelong United fan Ratcliffe will oversee the football operations of the club, with a focus on upgrading Old Trafford and enhancing the team's roster.
The approval of the deal hinged on the consent of the Premier League and the Football Association. With that confirmation now in place, the transaction will be completed once Ratcliffe secures the 25% of Class A shares, which is expected to occur before February 17 of this month.
Ratcliffe's acquisition comes after more than a year of uncertainty, following the Glazer family, the majority stake owners, announcing in November 2022 that they were exploring strategic options. The American Glazer family has faced fan criticism over the team's decline since winning the English Premier League title 20 times, particularly following a dominant era under former manager Alex Ferguson, who retired in 2013. While many fans hoped for the complete sale of the club, Ratcliffe's arrival has been met with significant enthusiasm.
