The Premier League has approved Sir Jim Ratcliffe’s proposed bid to buy a minority stake in Manchester United, what remains now is clearance from the Football Association to confirm the acquisition of 25 per cent of the club.
Ratcliffe agreed a deal to buy a stake in United in December and his tender offer for 25 per cent of the Class A shares traded on the New York Stock Exchange has been extended until midnight on Friday night.
The offer which is part of Ratcliffe’s deal to become the minority owner of Manchester United, was originally due to expire on Tuesday midnight.
It was announced on Christmas Eve that the INEOS chairman had agreed to buy a 25 per cent stake in the Premier League club in a deal that included investing into the club’s infrastructure.
The premier league statement read, “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.”
