Ineos Group chairman Sir Jim Ratcliffe has agreed to buy a 25 per cent stake in Manchester United and inject around $300 million into the club, the Red Devils have announced.
Ineos, who will assume delegated responsibility for the club's football operations, and United have entered an agreement under which he will acquire 25 per cent of the Class B shares held by the Glazer family and up to 25 per cent of the class A shares while investing $300 million into its infrastructure.
A club statement said: “Manchester United announces that it has entered into an agreement under which chairman of Ineos, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United's Class B shares and up to 25 per cent of Manchester United's class A shares and provide an additional 300 million intended to enable future investment into Old Trafford.
“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.”
The statement continued: “The joint ambition is to create a world-class football operation building on the club's many existing strengths, including the successful off-pitch performance that it continues to enjoy.
“The transaction is subject to customary regulatory approvals and all parties are hopeful it will be completed as soon as possible.”
Ratcliffe said: “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.
“While the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider Ineos Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
West Ham 2 Man United 0: Player ratings
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WEST HAM RATINGS: Untroubled for the most part in dealing with shots from the visitors. Great block with his legs from Garnacho on the half-hour. Made a hash of a tame shot from Mainoo shortly afterwards to concede a corner. AFP -
Good defensive header to clear danger on 40. Put in a pretty solid shift against Garnacho, who was the greatest threat in a generally toothless Man United attack. AFP -
Unflappable and unfancy. Showed good strength to hold up Hojlund when he tried to make a break in box. Clever clearance to deny Garnacho a chance when the Man United forward well-placed in the six-yard box. AFP -
Crucial interception to cut out a pass to Hojlund and prevent a one-on-one with the keeper. Poor positioning at times and caught ball-watching when Garnacho made a dangerous break. Action Images -
Stinging drive straight at Onana early on. Surging break on 51 minutes. Might have done better with his pass when freed by Bowen in the box on 54 minutes. Kept Antony pretty quiet. EPA -
Good defensive header to clear danger on 40 minutes. Solid shift to keep things tight in the middle for the Hammers. AP -
His buzzing energy was a constant threat. He seemed to pop up everywhere on the pitch. Electric running really unsettled Man United and his beautifully taken goal was just reward for his performance. AP -
Good work to put Fernandes under pressure as he attempted a header at goal from the edge of the box just after the break. Great effort to snuff out a dangerous Garnacho break. Snuffed out danger and distributed the ball well. AFP -
His switch from the left to the false-nine role changed the game. Vision and quality to dink a beautiful left-footed ball to tee up Bowen for the opener. His perfectly weighted pass freed Kudus for the second. AP -
Always getting into dangerous areas. Nearly scored from a corner with a fierce header. Poacher's goal for the opener to continue his fine vein of goal-scoring form. AFP -
His precise delivery was always a danger at set-pieces. Lovely, curling long pass to set Kudus free wide on right in first half. Great corner that Bowen connected with to force a fine save from Onana. AFP -
SUBS: (For Bowen 88') PA -
(For Kudus 90+4') Reuters -
MANCHESTER UNITED RATINGS: Three attempts on his goal in the first seven minutes, though only one save needed. Pressed aggressively by Ward Prowse. Tipped Bowen’s header but nervy moments when he tried to play ball out. Didn’t come out aggressively enough for West Ham’s opener. Getty Images -
Neat interactions and defended well alongside a debutant. Little going forward, like his non-scoring team. Action Images -
The teen was one of United’s best players on his debut. Handled the ball well, fantastic block on Paqueta. Helped by the lads alongside him. PA -
Mature head needed among the youngsters and cut a cross out on 35 to stop an excellent West Ham chance. Taken out by Zouma. On a yellow when he wrapped his body around Paqueta. Got away with a risky back pass to Onana. PA -
More involved than any player on the pitch and played through West Ham’s press comfortably. At the other end, whipped a dangerous ball into a well-defended box. Booked after 95 minutes. Getty Images -
Quiet, despite the fact his side controlled possession and the tempo of the game for an hour. But what does that mean when the team plays terribly and loses for the 13th time this season? Action Images -
A rare United shot on target after 39 minutes fumbled away. Lovely ball to Shaw on 48 – he can pick a pass. But big mistake for West Ham’s second goal. AFP -
Errant passing and poor overall, though he twice found Garnacho to set up the first half’s best chances. He’s looking like a colossal waste of money. AFP -
Captain of a side who played terribly. Moaned much. Played in Hojlund on 20. Yellow carded. Getty Images -
Best chances of the first half, but couldn’t sort his feet out and dragged his shot. Hit a shot that was deflected on to the roof of the net. Has to do better. Ran at pace, dropped his shoulder, but he’s playing in a team who don’t score. EPA -
Didn’t get in the game. It’s not just the Dane who doesn’t score, United haven’t scored in four games now and have only 18 in 18 league games. EPA -
SUBS: (For Hojlund 57'). Did little. AFP -
(For Antony 73'). Came on just after his team had gone behind. United’s response was limp. AFP -
(For Kambwala 84'). Reuters -
(For Garnacho 85'). It’s good that he’s back. AFP
