Sir Jim Ratcliffe has vowed to return Manchester United to “the very top of English, European and world football” after agreeing a £1.25billion deal to buy a 25 per cent stake in the club.
The Old Trafford outfit announced on Christmas Eve that the chairman of INEOS, who will assume delegated responsibility for football operations, had entered into an agreement, which is “subject to customary regulatory approvals”, which will also see him invest US dollars 300million – more than £236million – to refurbish the debt-laden club’s infrastructure.
However, it is boyhood fan Ratcliffe’s promise to put United “back where we belong” which will excite fans who have been in open revolt against owners the Glazer family, who launched a strategic review of the business in November last year.
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.
“Whilst 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.”
Under the agreement, INEOS will acquire 25 per cent of the Class B shares owned by the Glazers and tender an offer for up to 25 per cent of the Class B shares at USD33 each in a deal which will not add to the club’s existing debt.
In addition, he will inject USD200million – £158million – on completion to upgrade Old Trafford and a further USD100million – £79million – by the end of 2024, taking his total investment to around £1.25billion.
Executive co-chairmen and directors Avram Glazer and Joel Glazer, who announced a strategic review 13 months ago, 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. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.
“Manchester United has talented people right across the club and our desire is to always improve at every level to help bring our great fans more success in the future.”
Ratcliffe found himself engaged in a lengthy battle with Qatari businessman Sheikh Jassim after it became apparent that the club – or ultimately part of it – could be up for sale.
Sheikh Jassim withdrew his bid for full control in October with a long-running saga showing little sign of reaching a conclusion until Ratcliffe’s focus shifted to the pursuit of a significant minority stake.
The deal was announced by United at 4pm on Sunday in a statement which read: “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 Red Devils have not lifted the Premier League trophy since 2012-13, Sir Alex Ferguson’s last season at the helm, and last won the Champions League in 2008.
Confirmation of INEOS’ investment was given a guarded welcome by the Manchester United Supporters Trust.
A statement read: “Today might – just might – be a step forward for Manchester United after some very difficult years. But with the Glazers still in charge, people should understand that United fans will remain sceptical and wait for the proof in the pudding.”
Former United defender Gary Neville was less than impressed by the timing of the announcement.
“Manchester United 2023 has been a disgrace to the end,” he wrote on X.
“The timing of this is truly awful and no functioning organisation would even think about it.
“Anyway all the very best to Jim Ratcliffe and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch.”
Bristol City Women 0-4 Man City Women: Hosts relegated as Fowler double inspires WSL leaders
Mary Fowler scored twice to set WSL leaders Manchester City on their way to a 4-0 rout of Bristol City, who suffered relegation as a result, on Sunday.
With Arsenal having drawn with Everton earlier in the day, Man City knew a victory would be enough to take the title race down to two teams.
That victory duly arrived in emphatic fashion, with all four of Man City's goals arriving in the second half.
Fowler's fantastic strike opened the scoring in the 62nd minute, with the Australia international doubling her tally soon after, paving the way for an Amy Rodgers own goal and Alex Greenwood's late header to seal a huge victory.
Arsenal are now out of the title race, with Chelsea - who have two games in hand on Gareth Taylor's team - the only side capable of catching Man City.
The Robins, meanwhile, will be playing in the second tier again next term.
Data Debrief: Bristol heading down with a whimper
Bristol City have failed to score in their last five games in the WSL, a run of 544 minutes without a goal.
They mustered just 0.09 expected goals (xG) to Man City's 3.4, with the visitors having now kept a clean sheet in nine of their 20 league games this season.
De Rossi demands more from 'tired' Roma ahead of crunch run
Daniele De Rossi acknowledged his Roma team may be tired, but he insisted they must not allow themselves to be embarrassed.
Roma fought back to draw 2-2 with last season's Serie A champions Napoli in a pulsating fixture on Sunday.
Tammy Abraham's late header secured a point for De Rossi's team, who took the lead through Paulo Dybala's penalty before going behind to goals from Matias Olivera and Victor Osimhen.
With Serie A set to have five teams in the Champions League next season, Roma occupy fifth spot with four matches remaining, but sixth-placed Atalanta are just two points behind with a game in hand.
There is also the small matter of a Europa League semi-final against Bundesliga champions Bayer Leverkusen on the cards over the coming weeks, and De Rossi set the stall out.
"We drew, it is not a result to throw away, but it is not the result or the performance that we wanted," Roma coach Daniele De Rossi told Sky Sports Italia.
"At times you can steal the ball off Napoli, but we then gave it back again too many times. Napoli had a lot of chances in the first half, we did better in the second, but we have to do better.
"Look, we are tired, but we cannot start thinking that we’re tired and that means we can be embarrassed in the final few weeks of the season."
Roma host Leverkusen on Thursday before taking on Juventus on May 5, with a crunch clash against Atalanta – who are also into the Europa League semi-finals – set to follow after the away leg against Xabi Alonso's team.
Key to a successful end to the campaign for Roma will be keeping Dybala fit. The Argentine has been involved in the joint-most goals (12) in Serie A since the turn of the year, scoring nine and setting up three, level with Juve's Dusan Vlahovic.
PSG's latest Ligue 1 title arrives as Monaco lose to Lyon
Paris Saint-Germain have been crowned as Ligue 1 champions after Lyon overcame Monaco 3-2 on Sunday.
A 4-1 midweek win over Lorient ensured that one more victory would be enough for Luis Enrique's team to get over the line, but PSG failed to get the job done themselves when they faced relegation-threatened Le Havre on Saturday.
That game was the 700th match of the QSI era at PSG, and the club's 1,900th in France's top flight.
However, PSG's wait to win their third straight title did not last long, as less than 24 hours later, Lyon – who will face the Parisians in the final of the Coupe de France at the end of May – came out on top in a topsy turvy encounter with second-placed Monaco.
Substitute Malick Fofana was the matchwinner for Lyon, and ultimately the player who handed the title to PSG.
Wissam Ben Yedder had put Monaco ahead in the opening minute, but quickfire goals from Alexandre Lacazette and Said Benrahma turned the match on its head before half-time.
Ben Yedder netted his second to restore parity on the hour mark, and thought he had sealed his hat-trick when he volleyed in from a free-kick, only to have strayed offside.
With only a win good enough for Monaco to stay in the fight, the visitors were then caught out in the 84th minute, with Fofana racing onto Lacazette's throughball and finishing calmly.
After a dismal start to the season, relegation looked a real possibility for Lyon, but they are now, with three games remaining, still in with a shout of qualifying for Europe.
PSG on the other hand now have 12 Ligue 1 titles to their name, with 10 of those coming under QSI's ownership. Aside from the COVID-impacted 2019-20 season, five of their last six league titles have been secured before the start of May.
It also means Luis Enrique remains in the running for a treble in his first season at the club, with PSG taking on Borussia Dortmund in the Champions League semi-finals next week.
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