Manchester United have reached an agreement for Sir Jim Ratcliffe, chairman of INEOS, to acquire a shareholding of up to 25 per cent of the club.
A statement on the club's official website confirmed that Ratcliffe will acquire 25 per cent of the club's Class B shares, up to 25 per cent of its Class A shares, and will provide an initial $300million to enable future investment into Old Trafford.
The statement said: "As part of the transaction, INEOS has accepted a request by the Board to be delegated responsibility for the management of the Club’s football operations.
"This will include all aspects of the men's and women's football operations and Academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards."
Man Utd Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer, said: "We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS.
“As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and Academy teams.
“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club.”
Sir Jim Ratcliffe, pictured above, added: "As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club."
