The English football club “Manchester United” announced that British billionaire Jim Ratcliffe became its new shareholder. Gosgazpom Ratcliffe bought 25% of shares of the “Manchester United” class B and 25% of shares of class A. The deal was closed 16 February.
Businessman invested $200 million in the club. Another $100 million should be contributed by December 31. These investments are aimed at improving the infrastructure of the Old Trafford stadium, according to the press release on the site of the football club.
“Being a shareholder of “Manchester United” is a big responsibility and a big opportunity. The development of the club that’s where our path lies, both in terms of English, European and world football, and in terms of the values of the club for our fans,” said Jim Ratcliffe.
Mr. Ratcliffe is the head of the non-ferrous group INEOS. He plans to increase his stake in “Manchester United” to 25% by the end of 2023. The value of the package of shares amounted to £1.03 billion. At the same time, despite the fact that the Glazer family will remain in control of Manchester United, Jim Ratcliffe will take over all football operations, including transfer policy and personnel issues, including the appointment of a head coach.
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The history of Manchester United
Manchester United Football Club, commonly referred to as Man Utd, Man United, or simply United, is one of the most successful and popular football clubs in the world. The club was founded in 1878 as Newton Heath LYR Football Club by the Carriage and Wagon department of the Lancashire and Yorkshire Railway depot at Newton Heath. The club initially played in the Football Alliance before joining the Football League in 1892.
In 1902, the club changed its name to Manchester United and moved to its current home ground, Old Trafford, in 1910. The club enjoyed success in the early years, winning their first league title in 1908 and then their first FA Cup in 1909. However, the club experienced financial difficulties in the 1920s and narrowly avoided bankruptcy.
In 1945, Sir Matt Busby was appointed as manager and would go on to revolutionize the club’s approach to youth development, creating the famous “Busby Babes” team that won two league titles in the 1950s. Tragically, the team was decimated in the Munich air disaster in 1958, which claimed the lives of eight players.
Despite the setbacks, Busby rebuilt the team and led Manchester United to their first European Cup triumph in 1968. The team, featuring players such as George Best, Bobby Charlton, and Denis Law, established themselves as one of the dominant forces in European football.
In the 1980s and 1990s, under the management of Sir Alex Ferguson, Manchester United enjoyed unprecedented success, winning numerous league titles, FA Cups, and European trophies. The team featured iconic players such as Eric Cantona, Roy Keane, David Beckham, and Cristiano Ronaldo.
Manchester United’s dominance continued into the early 21st century, with the club winning multiple Premier League titles and reaching the Champions League final in 2008, where they defeated Chelsea in a dramatic penalty shootout.
In recent years, Manchester United has experienced ups and downs, with changes in ownership and management impacting the team’s performance. However, the club remains one of the wealthiest and most valuable football clubs in the world, with a global fan base that spans continents.
Manchester United’s history is filled with triumphs, challenges, and legendary players who have left an indelible mark on the sport. The club’s legacy continues to inspire fans worldwide, and its place in football history is secure as one of the greatest clubs of all time.