New Delhi: Manchester United minority owner Sir Jim Ratcliffe has increased his stake in the club as confirmed by the United States’ Securities and Exchange Commission. The British billionaire announced the decision to acquire the club almost exactly a year prior to today’s announcement. He paid a total of £1.2 billion to acquire 27.7% of stake in the club, becoming a minority owner but taking over the controlling rights of the Red Devils.
He has now pumped in a further £79 million ($99.6m) and acquired another 1.24% of the club, which now takes his stake to a total of 28.94%. While the Glazer family still remain majority owners of the club, this further investment from Sir Jim Ratcliffe showcases his commitment towards running the Manchester-based club. The SEC filling confirmed that these shares have been transferred from Ratcliffe, to his company INEOS, of whom he is the founder and chairman.
🚨✅ Sir Jim Ratcliffe has increased his stake in Manchester United. 💰
He has injected a further $100m. Stake is now 28.94% (was 27.7%), reports @MailSport. pic.twitter.com/Mhk1N3OTku
— EuroFoot (@eurofootcom) December 19, 2024
Ever since he took control of the club in the summer, a big part of his agenda has been to reduce the amount of expenditure at the club. He has overseen a process of cost-cutting, that led to over 250 club employees losing their job in the summer. While the news of him buying a stake in the club was met with cheers by the fans, things have quickly gone sour for the British billionaire.
He has come under heavy criticism during his short stint as he faced backlash over the decision of raising ticket prices for the fans. He has also been accused of ignoring the Manchester United women’s team, with reports calling him out over the same. The latest decision that adds to his criticism is the sacking of sporting director Dan Ashworth in a matter of months after the Red Devils spent so much time and money to bring the Englishman over in the first place.
What does Sir Jim Ratcliffe’s new investment mean for the club?
Sir Jim Ratcliffe pumps another £79 MILLION into Manchester United 🤑 pic.twitter.com/qR1rjcIetH
— Mail Sport (@MailSport) December 19, 2024
The new injection of funds however is not likely to go towards new manager Ruben Amorim’s transfer kitty. The club spent heavily in the summer transfer window, spending over £200 million on brining in new recruits and then spent close to £30 million combined, in sacking Erik Ten Hag and the appointment of Amorim. This new injection of funds is reported to head towards revamping the club’s infrastructure.
When the deal of Sir Jim Ratcliffe’s acquisition was announced on Christmas Eve last year, it was said that on top of his purchase price of the club, the British businessman would invest £238 million in the club’s infrastructure and this £79 million injection is expected to be a part of that deal. According to ESPN, these funds will be used across the club and manager Ruben Amorim has been told that he will receive a limited budget for the January transfer window after the club announced losses of £300 million over the last three seasons.
Manchester United minority owner Sir Jim Ratcliffe has increased his stake in the club as confirmed by the United States’ Securities and Exchange Commission. Football Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
