Sir Jim Ratcliffe Increases Manchester United Share Ownership

Sir Jim Ratcliffe added to Manchester United's share ownership (doc. Manchester United).

JAKARTA - Sir Jim Ratcliffe has increased his share ownership in Manchester United according to a report by the US Securities and Exchange Commission (SEC) released on Thursday, December 19, 2024, local time.

The British billionaire has paid around 79 million pounds ($99.6 million) for another 1.24 percent of Manchester United's shares.

He officially agreed to pay 1.2 billion pounds for 27.7 percent of the shares in December last year, meaning the latest investment increased its holdings to 28.94 percent.

The Glazer family, which bought the Premier League club in 2005, remains the majority owner.

The SEC report also revealed that shares in Manchester United have been transferred from Radcliffe to his company Ineos. Ratelege, now 72-year-old owner, CEO, and founder of the chemical company.

A source has informed ESPN that the additional funds will not be used in the January 2025 transfer market and will be used for the entire club.

Ratcliffe has overseen the cost cuts that have left more than 250 employees dismissed.

Ruben Amorim has been informed that there will be a limited budget available in the January 2025 era, with the club announcing a loss of more than 300 million pounds over the past three seasons.

Ratcliffe has been heavily criticized during his tenure at Manchester United. He has faced a backlash over the decision to raise ticket prices and has been accused of ignoring the club's women's team.

He was also part of a decision to extend Erik ten Hag's contract just five months before sacking the Dutchman.

In addition, he is suspected of being the actor in the dismissal of Sports Director Dan Ashworth, who only worked for about five months after hijacking him from Newcastle United for a dowry of 5 million pounds.