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Trollers, a holding company wholly owned by British billionaire Sir Jim Ratcliffe, has announced that it has successfully acquired a minority stake in British soccer giants Manchester United.
The investment, reportedly worth around $1.6 billion, will consist of Mr. Ratcliffe’s 25% of the club’s Class A shares (listed on the New York Stock Exchange) and 25% of its Class B shares (owned by the New York Stock Exchange). This means that he will acquire 27.7% of the club’s total shares. The Glazer family, the majority owners of the club), plus his $300 million invested in the infrastructure of the club itself.
The deal was agreed in December 2023, with the club confirming that Ratcliffe would become a minority shareholder, with the Trollers completing the purchase of the shares following the close of bidding on 17 February 2024.
The additional $300m investment will be made in two waves, with the first £200m going immediately into infrastructure improvements to the club’s iconic Old Trafford Stadium, which Man United will renovate over the next few years. reportedly planning to develop or expand. Meanwhile, the additional $100 million will be paid out by the end of 2024, but likely later this year as the investment is spread over two fiscal years.
Ratcliffe’s arrival at Man United ends a years-long saga that began with the businessman looking to buy most of the club in 2022, before the Glazers reconsidered the prospect of a sale. .
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Mr Ratcliffe was left as the sole bidder for a 25% stake in the club in October 2023, but negotiations nevertheless dragged on.
But now, Ratcliffe has finally bought out the team he claims he has supported his entire life, and is expected to seek increased stakes in the coming years ahead of a full acquisition of the Glazers.
Mr. Ratcliffe said of the acquisition: “Becoming a part-owner of Manchester United is a great honor and comes with great responsibility. Now that the deal is complete, we will continue to build Manchester United into England, Europe and Europe, with world-class facilities for our fans. And this is just the beginning of our journey to return to the top of world football. Our efforts to achieve these goals will accelerate from today.”
The sports division of Ratcliffe’s petrochemical business, Ineos, took over the sports side of the business from the Glazers and is already influential in recruiting new players at the club.
The deal will see Ineos step back from managing French top-flight soccer team OGC Nice and allow both parties to compete in UEFA international club competitions such as the UEFA Champions League and Europa League without breaching integrity rules.
Ineos bought Nice in 2019 and also owns Swiss football club Lausanne, which it bought in 2017, but will likely have to exit if it grows enough to qualify for European competition. have only been promoted to the Swiss top-flight league, Superleague). At the end of the 2022-23 season, they have fallen in the standings and currently sit in second place from the bottom).
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