Glazers speak out as Ratcliffe's £1.3bn deal sees them loosen grip on Man Utd
Joel and Avram Glazer say they're "delighted" to have sold 25 per cent of Manchester United to Sir Jim Ratcliffe in a long-awaited £1.3billion deal.
British billionaire Ratcliffe, the founder and chairman of petrochemicals company INEOS, will also take control of the club's football operations and has pledged to unlock United's true potential. The Old Trafford hierarchy announced in November 2022 that the club was under strategic review, with Ratcliffe, 71, eventually winning the race and hoping to ultimately complete a full takeover.
As they remain co-executive chairmen and directors at Old Trafford, brothers Joel and Avram said in a statement: "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.”
Marcel Sabitzer completes Man Utd transfer after last-minute deadline day dash
Also in the announcement, which came at 4pm on Christmas Eve, Ratcliffe added: "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.
Avram and Joel Glazer will see their power diminished (PA)Get involved! Have the Glazers made a smart decision? Join the debate in the comments section.
"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."
Ratcliffe and his INEOS colleagues will be tasked with overseeing the January transfer window in which manager Erik ten Hag is set to see his squad strengthened.
Read more similar news:
Comments:
comments powered by Disqus
