Following the EPL, The FA also Approved Ratcliffe’s Acquisition of 25% of Manchester United’s Shares
British billionaire Jim Ratcliffe’s ascension to the position of owner of Manchester United has crossed the 9th division as he received approval from the English Football Association (FA) following the English Professional Football Premier League (EPL).
According to Reuters, the FA announced in a statement on the 14th (local time) that it had approved the acquisition of a stake in Manchester United by Ratcliffe, founder of global chemical group Ineos.
This is a follow-up measure that came a day after the EPL approved a deal to acquire a 25% stake in Manchester United and an additional investment of $300 million (about 400 billion won) in its home stadium, Old Trafford.
Ratcliffe has also signed the EPL club owners’ charter. 카지노사이트킹
Now, once the actual equity transaction is completed, Ratcliffe’s process of becoming the owner of Manchester United is complete.
Foreign media, including Reuters, believe that stock trading will be completed before the 17th.
Ratcliffe will acquire 25% of Manchester United’s Class B shares and up to 25% of Class A shares held by the Glazer family.
The Glazer family and Class A shareholders will receive the same $33 per share, the club explained.
In December last year, Manchester United announced that Ratcliffe would acquire a 25% stake in the company.
Ratcliffe became the final winner in a two-way takeover competition with a consortium led by Sheikh Jassim bin Hamad Al Thani, Chairman of Qatar Islamic Bank (QIB).
According to the BBC, Qatari capital proposed a large sum of more than 5 billion pounds (about 8.3 trillion won), but reportedly withdrew after determining that the Glazer family had no intention of completely handing over its stake.
Under this deal, known to be worth about $1.3 billion, all management rights, including the management of Manchester United’s men’s and women’s teams and the academy, were delegated to Ineos.
Ratcliffe, who is famous for being a long-time Manchester United fan, is known to have already visited his home stadium, Old Trafford, and the club’s training ground several times while waiting for the remaining procedures to be completed.
Ratcliffe, who officially announced his intention to acquire Manchester United in February last year, said through Ineos, “I want to return influence in Manchester to Manchester United, which has its roots in the northwest of England and has a proud history.
In particular, the UEFA Champions League (UCL) I want to focus on winning,” he said.
Manchester United is in 6th place in the EPL this season, accumulating 41 points with 13 wins, 2 draws, and 9 losses.