Premier League release statement with major update in Sir Jim Ratcliffe's Man Utd investment

The Premier League have confirmed Sir Jim Ratcliffe's minority investment in Manchester United has been approved, taking him one step closer to becoming a shareholder in the club.

Ratcliffe agreed a deal to purchase just over a 25 percent stake in United on Boxing Day, with the league since working to ratify his arrangements with the Glazers. In a statement released on Tuesday, the Premier League announced Ratcliffe has now passed the Owners’ and Directors’ Test, the biggest step taken since that December deal was struck.

"Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United FC, and further investment of $300 million in the club, has been approved by the Premier League Board, following the completion of the Owners’ and Directors’ Test (OADT).

"The Board agreed to the change of the club’s ownership structure last week, and this has now been officially ratified by an Independent Oversight Panel.

"The Premier League’s Owners’ Charter has also been signed. This is the first acquisition of Control to be reviewed and approved by a new Independent Oversight Panel following changes to the process which were agreed by Premier League clubs in March 2023. The Premier League now awaits confirmation of the transaction’s completion."

For the deal to now be complete, Ratcliffe has to officially purchase 25 percent of the club's Class A shares, and the FA must approve the new ownership model at Old Trafford.

Ratcliffe made an offer to all Class A shareholders and 36.7 percent of Class A shares have been tendered for sale, above the 25 percent needed. That formality is expected to be resolved next week, by which stage Ratcliffe will own a quarter of the Class A shares, plus the more powerful Class B shares which he purchased from the Glazers. Holders of Class A shares have until 4:59am on 17 February (UK time) to tender their shares.

United insiders describe the deal as 'proceeding positively towards completion', with the process expected to be concluded next week.

Ratcliffe has wasted no time in making an impact at United and, despite his status as a new co-owner not yet confirmed, he has already met with key figures at the club, including the players, manager, staff, fan groups and local politicians. He also played a significant role in the decision to appoint Omar Berrada as the club's new CEO.