Late last night, Beijing time, Manchester United Football Club announced that Sir Jimmy Ratcliffe, chairman of INEOS Group, acquired 25% of Manchester United's shares, and will also take over all affairs including Manchester United men's team, Manchester United women's team and Manchester United's youth echelon at all levels.
In 2005, the Glazer family took over Manchester United. Between 2007 and 2013, Manchester United won five Premier League trophies. However, after the departure of legendary coach Alex Ferguson, Manchester United, who has changed coaches many times, is still unable to return to the top, which also makes the outside world question the Glazer family.
In late November last year, the Glazer family announced that they were considering selling ownership of the club. After that, negotiations over the club's takeover went on for a full 13 months. At present, it seems that this process has finally come to an end.
According to foreign media sources, Manchester United will need six to eight weeks to obtain approval from Premier League regulators before the deal is officially completed. Ratcliffe and INEOS Group will be conducting their own audits during this time, but they will not be able to exercise decision-making power at the club until the agreement is approved.
The club's official announcement highlighted the acquisition of up to 25% of Manchester United by Sir Jimmy Ratcliffe, chairman of INEOS Group, which sparked speculation in foreign media that the actual rulers of Manchester United may still be the Glazer family.
In an announcement released by INEOS Group, Ratcliffe highlighted that he is an absolute fan of Manchester United:
I am delighted to have reached an agreement with the Manchester United Board and to take on the responsibility for the management of the club's football operations. While the commercial function of the club ensures that the team has the funds to win trophies, this potential has not been fully realized in recent years. INEOS Group will bring expertise and talent to Manchester United to drive the club's further development.
We all want Manchester United to return to where they once were, to the pinnacle of English, European and world football.
This season, Manchester United have won 9, drawn 1 and lost 8 of 18 Premier League games, and are currently in eighth place in the league. The results in the Champions League are even more worrying, as they finished bottom of the group stage.
It is reported that after INEOS Group is responsible for Manchester United's football operation management, it is very likely that Blanco, its sports department director, will be appointed as Manchester United's CEO, and personnel adjustments will be made to sports director, transfer experts and other positions. It remains to be seen whether this series of moves will involve Ten Hag's managership, but United's results in the next month or so will have a big impact on his stay.