The Premier League has released a statement regarding Manchester United’s acquisition by Sir Jim Ratcliffe
There will be a lot of cause for celebration in Manchester tonight, as Sir Jim Ratcliffe and his team from INEOS have officially taken control over the Red Devils’ football operations.
This means that the Glazers will not be able to cause any further harm to the team. The club has fallen from glory under their rule, but a new dawn is finally on the horizon at Old Trafford.
Both the Football Association and the Premier League have given the green light to INEOS, and people from the organization should soon start to take office at Manchester United.
The Premier League even released a statement in light of these events. Let’s have a look. (h/t Manchester Evening News)
Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United FC, and further investment of $300 million in the club, has been approved by the Premier League Board following the completion of the Owners’ and Directors’ Test (OADT). The Board has agreed to the change of the club’s ownership structure last week, and this has now been officially ratified by an Independent Oversight Panel. The Premier League Owners’ Charter has also been signed. This is the first acquisition of Control to be reviewed and approved by a new Independent Oversight Panel following changes to the process which were agreed by Premier League clubs in March 2023.
This confirms the change in the club’s ownership structure, and INEOS will now have free rein to take decisions at Old Trafford. Such good news will likely have a positive effect on the field as well.
Manchester United have already looked strong during 2024, and now the official arrival of Sir Jim Ratcliffe and INEOS should help the team put more wins on the board.
This has been quite a saga, as Ratcliffe once even threatened to pull his bid, but all of that is in the past, and a new era is beginning at Old Trafford.
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Now, all eyes will be on Manchester United during the summer. People expect INEOS to make big changes to the squad before the next season begins
Hopefully, the new owners will be able to field a stronger Old Trafford squad before the 2024/25 season kicks off.
