Sir Jim Ratcliffe has received the green light from the Premier League to take over as a minority investor at Manchester United, according to The Telegraph.
The British billionaire agreed to purchase a 25 per cent stake at the club before Christmas last year, but it was anticipated that the approval would take several weeks.
Ratcliffe himself revealed that the deal could be ratified by the Premier League by mid-February and it is now only a matter of time before he takes control of United.
As per The Telegraph, Ratcliffe has received the ‘Premier League directors and owners’ test approval’ for his 25 per cent stake and a deal will be completed within days.
The Football Association will sign off the final agreement after Ratcliffe extended his purchase offer until the end of this week. A Premier League statement is expected next week after the completion.
United fans will be delighted as takeover saga ends
The takeover saga at United has been a prolonged one. The Glazers first revealed their desire to look for ‘strategic alternatives‘ in November 2022 with a club statement.
It was initially thought that a permanent sale could be on the cards. Both Ratcliffe and Sheikh Jassim were the front-runners, but neither were successful with their proposals.
The Glazers eventually agreed to a minority stake deal with Ratcliffe. As part of the agreement, the 71-year-old and his company INEOS will have control over footballing operations.
They will also be in-charge of recruiting backroom staff such as a new sporting director, and there are also plans to either redevelop Old Trafford or build a new stadium nearby.
The fans will be delighted with the takeover saga coming to an end. Hopefully, we will see a new dawn under Ratcliffe with the willingness to inject personal funds into the club.
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