Sir Jim Ratcliffe increases Manchester United stake, injects another £79m
Sir Jim Ratcliffe invests additional £79m in Manchester United, increasing his stake to 28.94%.
Follow12 months since taking over Manchester United, Sir Jim Ratcliffe has recently invested an additional £79m into the Red Devils. This investment has increased his stake in the club from 27.7% to 28.94%.
Ratcliffe's investment in Manchester United is part of a larger deal that saw him pay around £1.2bn for 27.7% of the club. As part of the agreement, he also committed to investing $300m (£237m) in the club. A recent filing with the US Securities and Exchange Commission confirmed the final payment of $100m (£79m) and the transfer of Ratcliffe's shares to INEOS.
The latest investment is earmarked for infrastructure development, but will be used across the club. This is a welcome boost for Manchester United, which has undergone significant cost-cutting measures since INEOS' arrival. These measures will enable the club to allocate the new funds to areas of need, rather than using them to cover costs.
Ratcliffe's ownership of Manchester United has been marked by significant changes, including the sacking of manager Erik ten Hag. Ten Hag's departure came despite the club's FA Cup win last season. Ratcliffe had given Ten Hag a significant transfer budget, but the team's poor performance led to his dismissal.
The club has also seen the arrival and departure of sporting director Dan Ashworth, who was poached from Newcastle but lasted only a few months in the role. Ratcliffe's decision to raise matchday ticket prices to £66 per game, without concessions for children or pensioners, has also been unpopular with fans. Additionally, over 250 club staff have been made redundant in a bid to cut costs.
Despite the challenges, Ratcliffe remains committed to Manchester United. His investment in the club is a testament to his dedication to its success. As the club looks to the future, fans will be hoping that Ratcliffe's investment will bring about a new era of success for the Red Devils.
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