Manchester United shares: Manchester United shares rise as Ratcliffe deal eases ownership uncertainty
Ratcliffe’s INEOS Group is acquiring a 25% stake in the company for $33 a share, valuing the 20-time British champions at $6.3 billion including debt, according to people familiar with the matter.
Under the deal, INEOS will also manage Manchester United’s football operations after the Glazer family’s long-standing ownership came under fire for the club’s poor performance over the past decade.
Manchester United’s shares have soared around 52% since the Glazers announced in November last year that they were exploring strategic options, including selling the club.
Since former manager Alex Ferguson resigned in 2013, the club has employed five permanent managers and three caretakers but has failed to recapture its glory days, winning just four trophies in 11 years.
Ratcliffe’s INEOS Sport owns France’s OGC Nice, which is second in Ligue 1 behind Paris Saint-Germain, which is majority-owned by investment fund Qatar Sports Investments.
The Gulf nation’s Sheikh Jassim bin Hamad Al Thani also considered buying the club but halted the process, saying he would not increase his $6 billion offer. INEOS also owns top-10 FC Lausanne-Sport, who are in danger of relegation in the Swiss Super League.
Despite investing heavily in signing popular players over the past few years, Manchester United have been eliminated from European competition and sit eighth in the Premier League table.
