Sir Jim Ratcliffe and INEOS have completed their purchase of a 25 per cent stake in Manchester United worth $1.3bn.
That is according to The Athletic, who reports the takeover has been finalised after it was announced in December that a deal had been agreed between the Glazer family and Ratcliffe for the British businessman to get involved with the Premier League giants.
Last week saw the Football Association and the Premier League approve the minority takeover ahead of Tuesday’s announcement that everything is now official.
The INEOS CEO has already started work at Man United as he has control over the sporting side of the Red Devils.
The 71-year-old has already set about putting the right people in place behind the scenes at Old Trafford with Omar Berrada arriving from Man City to take up the CEO role, while Ratcliffe is currently chasing Dan Ashworth to be his sporting director.
This summer will be a huge one for Ratcliffe as he oversees his first transfer window at United and will want to add quality to Erik ten Hag’s squad.
This deal is huge for the future of Man United as the INEOS CEO will likely seek a full takeover of the Manchester club in the future.
Fans of Man United have wanted the Glazers out of their club for years and the arrival of Ratcliffe will give them some hope.