Premier League
‘Local boy’ Ratcliffe takes stake in Manchester United
British billionaire Jim Ratcliffe struck a long awaited deal on Sunday to buy a 25% stake in Manchester United and pledged to invest $300 million in the English Premier League soccer club to try to revive its fortunes.
The deal, which will also see Ratcliffe’s INEOS group take over management of the club’s soccer operations, ends more than a year of uncertainty after majority owners, the Glazer family, said in November 2022 they were looking at strategic options.
The Glazers have come under heavy criticism from fans for presiding over a decline in the club’s performance since former manager Alex Ferguson retired in 2013 following a period of unprecedented success.
“As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the club,” Ratcliffe, 71, said in a statement.
“Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford.”
Ratcliffe’s stake purchase at $33 per share values the 20 times English champions at $6.3 billion including debt, a source familiar with the matter said.
The club said $200 million of Ratcliffe’s planned investment would be paid on closing of the deal, and a further $100 million by the end of 2024.
Qatar’s Sheikh Jassim bin Hamad al Thani had also looking at buying the club, but dropped out of the process, saying he would not raise his $6 billion offer.
Ratcliffe’s INEOS also owns French Ligue 1 club Nice, Swiss Super League side FC Lausanne-Sport, and works with Racing Club Abidjan of Ivory Coast Ligue One. It is also behind the Grenadiers, one of the world’s most successful cycling teams.
‘WEALTH OF EXPERIENCE’
“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the club,” United’s executive chairs Avram Glazer and Joel Glazer said.
“And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.”
Since Ferguson stepped down, United have cycled through five permanent managers and three caretakers but failed to recapture the glory days, winning one FA Cup, two League Cup trophies and a Europa League title in 11 years.
The Glazers’ adamant stance on not selling the club over the years has become a source of frustration for the fans who clamoured for change and held protests as the club’s net debt soared to over $600 million.
The Manchester United Supporters Trust (MUST) welcomed the investment from Ratcliffe but questioned the new structure that will be put in place and demanded a meeting with the INEOS team to understand its plans.
“We note the statements that he and his team will control sporting activities, yet puzzle how any organisation can put its very core business in the hands of a minority shareholder, and how that meaningfully works in practice,” MUST said in a statement.
“It is now incumbent on the club’s owners and management to properly explain how this new structure will work, where the new investment will be directed and how it will benefit the team on the field.”
Under Dutch coach Erik ten Hag, United are eighth in the Premier League table – 12 points off the top – despite a transfer outlay of nearly 1 billion euros ($1.1 billion) in the last six years.
They were also knocked out of European competitions after finishing last in their Champions League group.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead,” Ratcliffe added.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
-Reuters
Thomas Partey, who formerly played for English Premier League soccer club Arsenal, has been charged with rape and sexual assault, London’s Metropolitan Police said on Friday.
Partey, a Ghana international, was charged with five counts of rape and one count of sexual assault, with the charges relating to three women and the offences reported to have taken place between 2021 and 2022, the statement said.
Partey’s management did not immediately respond to a request for comment.
He is due to appear at London’s Westminster Magistrates’ Court on Aug. 5.
Partey, 32, was signed by Arsenal from Atletico Madrid for 50 million euros ($59 million) in October 2020 and became a key member of Arsenal’s first team.
He was first arrested in July 2022, though he was not named at the time and continued to play for Arsenal while investigations were ongoing.
-Reuters
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Five players including England forward Marcus Rashford and Argentina winger Alejandro Garnacho have informed Manchester United that they wish to explore a future away from the Premier League side, a club source said on Friday.
Brazilian midfielder Antony, Dutch defender Tyrell Malacia and England international Jadon Sancho are also looking to leave the club, the source added.
Rashford, who has made more than 400 senior appearances for United, has fallen out of favour with manager Ruben Amorim, played for Aston Villa on loan while United had their worst-ever Premier League campaign, finishing 15th in the standings.
Amorim had called Rashford’s work rate into question, saying he would rather put a goalkeeper coach on the bench than a player not giving their all.
Rashford said he was feeling fitter and better since joining Villa, where he scored two goals in 10 league appearances.
United also failed to qualify for the Champions League as they lost the Europa League final 1-0 to Tottenham Hotspur. Garnacho, who was a late substitute in the final, voiced his displeasure on social media after the loss.
“Up until the final, I played every round helping the team, and today I play 20 minutes, I don’t know,” he wrote in a post . “The final will influence (my decision), but the whole season, the situation of the club.”
Sancho was on loan at Chelsea, where he made 31 league appearances last season. Antony, who joined United from Ajax Amsterdam in 2022 for a reported initial transfer fee of more than $100 million, scored five goals in 17 LaLiga appearances on loan at Real Betis.
Malacia joined Dutch side PSV Eindhoven on loan in February.
-Reuters
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Manchester United captain Bruno Fernandes turned down the opportunity to join Saudi Pro League side Al-Hilal in order to keep playing “at the highest level”, he said on Tuesday.
The Portuguese midfielder admitted that he had considered the move, which media reports said was worth four times his current salary, after being contacted by Al-Hilal’s president.
“There was that possibility, the president of Al-Hilal called me a month ago to ask me about it,” Fernandes, who is preparing to face Germany with Portugal, told reporters on Tuesday.
“It was a big offer, very ambitious. There was a waiting period for me to think about the future.”
Fernandes ultimately decided to stay at United and said he was motivated by his desire to continue playing at the top level and encouraged by his family and the club’s coach Ruben Amorim.
“I would be willing to do it if Manchester United thought so,” Fernandes added. “I spoke to the coach Ruben Amorim who really tried to talk me out of it. The club said they would not be willing to sell me, only if I wanted to leave.
“I spoke to my wife and family, and she asked me what my personal goals were in my career.
“It would have been easy to move there but I want to keep myself at the highest level, playing in the big competitions and I feel capable of it. I am happy with my decision.”
The 30-year-old Fernandes scored 19 goals and provided 19 assists in 57 appearances across all competitions for United last season, winning the club’s Player of the Year award for the fourth time.
However, it was a season to forget for the team, as they finished 15th in the Premier League, their lowest league finish in half a century, and lost the Europa League final to Tottenham Hotspur.
-Reuters
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