The Premier League have officially approved Sir Jim Ratcliffe’s 25 per cent stake in Manchester United after releasing a full statement.
They have already started their changes at Old Trafford, with Omar Berrada being the first major addition as chief executive.
However, they can now really get to work as awaiting Premier League ratification has been something holding them back from getting their feet firmly under the table.
In a statement released on Tuesday, 13 February, the Premier League stated that the acquisition has been approved, alongside further investment from Ratcliffe of $300 million.
“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 statement began.
“The Board 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’s 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.
“The Premier League now awaits confirmation of the transaction’s completion.”
The club are expecting to add a sporting director and head of recruitment to the new-look team under INEOS in the coming months.
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