Sir Jim Ratcliffe increases Manchester United stake
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Sir Jim Ratcliffe has increased his stake in Manchester United to nearly 29 per cent after completing the cash injection promised when purchasing his minority stake in the Premier League club. On Christmas Eve last year it was announced that the Ineos chairman had agreed a deal to buy 25 per cent of the club, including investing a further 300 million US dollars (£238m) into infrastructure.
That deal was ratified in February and the Securities and Exchange Commission has confirmed that the final 100m dollars (£79.3m) was paid on Wednesday. Ratcliffe receives additional shares in return for that payment, taking his ownership from 27.70 per cent to 28.94 per cent.
The £79.3m injection is part of the commitment to helping to turn the club around and PA understands it is for infrastructure investment rather than bolstering January transfer funds. The SEC filing published on Thursday also confirmed that all of Ratcliffe’s shares in United are being transferred to INEOS from Trawlers Ltd, which bought the stake from the Glazer family.
That brings the Premier League club into the same ownership structure as INEOS’ other sports assets, with a United source telling PA it is “financial housekeeping”. Ratcliffe has made what he calls “difficult and unpopular decisions” since becoming co-owner at a club he felt had become “mediocre”.
