MANCHESTER, England: Jim Ratcliffe’s proposed bid to buy a 25 percent stake in Manchester United moved nearer to completion on Wednesday after the Premier League club said the deal had been approved by the English Football Association.
The Premier League has already cleared Ratcliffe to take up a minority share under its rules regarding who is allowed to be an owner or director of a soccer club.
The British billionaire has until February 17 to complete his purchase, although confirmation could come later than that.
In a filing to the Securities and Exchange Commission on Wednesday, United said the FA had given its approval for the deal to go ahead. League approval was confirmed on Monday.
Ratcliffe is one of Britain’s richest people and the owner of petrochemicals giant INEOS. He agreed a deal to buy a stake in United in December after owners the Glazer family had put the club up for sale in 2022.
The Glazers, who also own the Tampa Bay Buccaneers, eventually opted to sell a minority of the 20-time English champion after also fielding bids from Qatari banker Sheikh Jassim bin Hamad Al Thani.
The 71-year-old Ratcliffe has paid $1.3 billion for “up to 25 percent” of the club and will invest a further $300 million for “future investment into Old Trafford,” United have said.
He will provide $200 million upon completion of the deal and a further $100 million by the end of 2024. That additional investment will eventually take Ratcliffe’s stake up to 29 percent. The Glazer family will have a 49 percent stake under the deal.
Racliffe’s INEOS Sport division will take over control of United’s soccer operation.
Fans have been disillusioned with the team’s on-field decline since the retirement of former manager Alex Ferguson in 2013. United have not won the title since Ferguson’s final season and have repeatedly missed out on qualification for the Champions League during that period.
Many United fans have campaigned to drive the Glazers family out.
While fans hoped for a complete buyout of the club, there is optimism Ratcliffe, who was a boyhood United supporter, can help return them to their glory days.
Man United get approval from the FA to sell minority stake to British billionaire Jim Ratcliffe
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Man United get approval from the FA to sell minority stake to British billionaire Jim Ratcliffe
- The Premier League has already cleared Ratcliffe to take up a minority share under
- The British billionaire has until February 17 to complete his purchase, although confirmation could come later than that
Arsenal get title boost as Man City and Villa both drop points
- Second-placed City remain five points behind Arsenal who can stretch the lead to eight if they beat Liverpool on Thursday
- Third-placed Villa are also five behind after they could only draw 0-0 in a dour contest at Crystal Palace
- Antoine Semenyo gave Bournemouth fans a farewell gift before his expected move to Manchester City, scoring in stoppage time to give his side a 3-2 victory at home against Tottenham
LONDON: Arsenal’s Premier League title prospects were enhanced without them even kicking a ball on Wednesday as their closest challengers Manchester City and Aston Villa both dropped points.
Erling Haaland scored his 150th goal for City as he put them in front against Brighton and Hove Albion from the penalty spot but Kaoru Mitoma equalized for the visitors on the hour with the game finishing 1-1.
It was the third successive draw for stuttering City who were held by Sunderland on New Year’s Day and by Chelsea at the weekend when they also conceded an equalizer.
“The result is the result. I’m not a person who believes what we have done isn’t fair,” City manager Pep Guardiola said.
Second-placed City remain five points behind Arsenal who can stretch the lead to eight if they beat Liverpool on Thursday.
Third-placed Villa are also five behind after they could only draw 0-0 in a dour contest at Crystal Palace, Ollie Watkins going closest for Villa with a late effort against the woodwork.
Chelsea’s new manager Liam Rosenior watched on in the stands at Craven Cottage as his new club went down 2-1 at Fulham after having Marc Cucurella sent off midway through the first half.
Raul Jimenez gave Fulham the lead and although Liam Delap equalized for the visitors, Harry Wilson sealed the points for Fulham. Defeat left Chelsea down in eighth place.
Sesko scores twice
Two days after sacking manager Ruben Amorim, Manchester United could only draw 2-2 at 19th-placed Burnley.
Benjamin Sesko scored twice for United, doubling his tally for the season, but it was not enough to give caretaker manager Darren Fletcher a win as Jaidon Anthony’s equalizer earned Burnley a point. United slipped to seventh.
Brentford moved into fifth spot as Brazilian striker Igor Thiago followed up his hat-trick at the weekend against Everton with two goals in a 3-0 home victory over Sunderland to take his league tally for the season to 16.
“He’s a complete center forward,” said Brentford manager Keith Andrews. “I wouldn’t be swapping him for anybody.”
Newcastle United trailed three times in a thriller at home to Leeds United but emerged with an astonishing 4-3 victory to move into the top six thanks to a last-gasp goal by Harvey Barnes after Bruno Guimaraes had equalized for the hosts from the penalty spot in the 91st minute.
Barnes’s goal arrived in the 102nd minute, the latest winning goal in Premier League history.
Bottom club Wolverhampton Wanderers’ recent upturn continued with a 1-1 draw at Everton.
Everton ended the game with nine men after Michael Keane, who scored their goal, and Jack Grealish were both sent off late on — Keane for an apparent hair pull on Tolu Arokodare.
‘No man deserves it more’
Antoine Semenyo gave Bournemouth fans a farewell gift before his expected move to Manchester City, scoring in stoppage time to give his side a 3-2 victory at home against Tottenham Hotspur, his side’s first win in 12 league games.
“That was the type of stuff you write in movies and no man deserves it more than him,” Marcus Tavernier said of his soon-to-be former teammate.
Semenyo illustrated just why City are prepared to pay £65 million ($87.46 million) for his services with a curling shot past Guglielmo Vicario sparking wild celebrations.
City have won the title six times in the last eight seasons but their hopes of reclaiming it after being dethroned by Liverpool last season are beginning to look forlorn.
They produced a lacklustre attacking display against Brighton but Haaland’s penalty, after a foul by Diego Gomez on Jeremy Doku, looked like earning them a victory that would have put some pressure on leaders Arsenal.
But Brighton struck back as Mitoma guided in an equalizer from the edge of the penalty area.
Haaland should have won it for City late on, but fired a shot straight at Brighton keeper Bart Verbruggen.
To make matters worse for City, Guardiola said Savinho will be out for two months with an injury, adding to an absentee list that also includes defenders Ruben Dias, Josko Gvardiol and John Stones.
