The Premier League have approved Sir Jim Ratcliffe’s acquisition of a 25% stake in Manchester United.
An agreement was reached and announced on Christmas Eve and it means the Ineos Group, headed by Ratcliffe, would be taking a quarter of the club under his ownership as well as taking control of football operations.
Ratcliffe also pledged $300 million towards upgrading the infrastructure at United.
Initial talks were held over Ratcliffe trying to buy a majority of the club, although that never materialised and he struck a different deal with the view of getting his foot in the door.
The deal has finally been ratified by the Premier League.
In a statement, the Premier League said: “Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United FC, and further investment of $300m in the club, has been approved by the Premier League Board following the completion of the Owners’ and Directors’ Test (OADT).
“The Board agreed to the change of the club’s ownership structure last week, and this has now been officially ratified by an Independent Oversight Panel.
“The Premier League’s Owners’ Charter has also been signed.
“This is the first acquisition of Control to be reviewed and approved by a new Independent Oversight Panel following changes to the process which were agreed by Premier League clubs in March 2023.
“The Premier League now awaits confirmation of the transaction’s completion.”
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