Manchester United takeover LIVE: Sir Jim Ratcliffe’s Ineos completes deal with Glazers for minority stake

Manchester United have entered a new era as Sir Jim Ratcliffe has completed his deal to become a minority shareholder in the Premier League club.

Ratcliffe’s Ineos Group have announced that they have agreed a deal, thought to be in the region of £1.3bn, with the current owners, the Glazer family, to buy 25 per cent of United.

The petrochemicals billionaire will take control of football operations and is prepared to invest a further £245m into infrastructure works at Old Trafford and possibly Carrington, United’s training ground.

The agreement will signal the end of a tumultuous chapter in the club’s history after the Glazers announced that they would consider selling the club back in November 2022.

Follow all the latest updates below:

Manchester United takeover live

• Sir Jim Ratcliffe’s Ineos Group purchase a 25 per cent stake in Manchester United

• Ratcliffe confirms his Ineos Group will take control of football operations at Old Trafford

• Ratcliffe vows to get Manchester United ‘back where we belong’ after purchase confirmed

• PROFILE: Who is Sir Jim Ratcliffe, the billionaire Ineos owner buying a stake in Manchester United?

• MIGUEL DELANEY: Everything you still don’t know about the Manchester United takeover

• RICHARD JOLLY: Sir Jim Ratcliffe will have no honeymoon amid United’s problems

• Gary Neville criticises ‘truly awful’ timing of Manchester United takeover

• Manchester United fans ‘remain sceptical’ of Glazers after Ratcliffe investment

• Glazer family started exploring sale options in November 2022

Sir Jim Ratcliffe vows to get Manchester United ‘back where we belong’

18:10 , Jamie Braidwood

Sir Jim Ratcliffe has vowed to return Manchester United to “the very top of English, European and world football” after agreeing a £1.25billion deal to buy a 25 per cent stake in the club.

The Old Trafford outfit announced on Christmas Eve that the chairman of Ineos, who will assume delegated responsibility for football operations, had entered into an agreement, which is “subject to customary regulatory approvals”, which will also see him invest $300m – more than £236m – to refurbish the debt-laden club’s infrastructure.

However, it is boyhood fan Ratcliffe’s promise to put United “back where we belong” which will excite fans who have been in open revolt against owners the Glazer family, who launched a strategic review of the business in November last year.

Sir Jim Ratcliffe vows to get Manchester United ‘back where we belong’

Manchester United Supporters’ Trust response to INEOS agreement

18:02 , Jamie Braidwood

“During 18 years of debt, decay and mismanagement, Manchester United fans have loudly and consistently called for change at our Club.

“When the so-called Strategic Review was announced nearly a year ago, it finally appeared that the sale of the club was on the horizon, potentially bringing the new investment and new direction MUFC so clearly needs.

“Against that backdrop, fans have very mixed feelings today. We welcome the investment from a boyhood red, Sir Jim Ratcliffe and his INEOS company, but many will wish his ownership stake was greater than the initially rumoured 25%. 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.

“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. As the Supporters Trust, we expect to have discussions with the Club management and the INEOS team in the near future to understand their plans, and to put to them the very many questions fans have today.

“Today might – just might – be a step forward for Manchester United after some very difficult years. But with the Glazers still in charge, people should understand that United fans will remain sceptical and wait for the proof in the pudding.”

Gary Neville criticises ‘truly awful’ timing of Manchester United takeover

17:28 , Jamie Braidwood

Gary Neville criticised the “truly awful” timing of Manchester United’s confirmation that Sir Jim Ratcliffe has agreed to buy a 25 per cent stake in the club after the deal was announced at 4pm on Christmas Eve.

After months of talks, United have finally confirmed that they had entered an agreement with the Ratcliffe and the Ineos Group, who will assume delegated responsibility for the club’s football operations.

Ratcliffe will acquire 25 per cent of the Class B shares held by the Glazer family and up to 25 per cent of the Class A shares while investing $300m (£236.7m) into its infrastructure.

The sale of the stake to Ratcliffe ends a 13-month takeover process, and Neville, an outspoken critic of the Glazer family, said his former club had been a “disgrace to the end” in 2023 amid a dismal run of form on the pitch.

“The timing of this is truly awful and no functioning organisation would even think about it,” Neville posted on Twitter/X.

Gary Neville criticises ‘truly awful’ timing of Manchester United takeover

Sir Jim Ratcliffe will have no honeymoon as he faces urgent problems at Manchester United

16:58 , Jamie Braidwood

When Sir Jim Ratcliffe was born, Manchester United were champions of England. If that was an unusual status for them then – Sir Matt Busby’s triumph in 1952 was United’s first in 41 years – the chances are that Ratcliffe hopes their 21^st title will come with him in the boardroom. It has taken him seven decades to travel the seven miles from his Failsworth birthplace to Old Trafford and a status as co-owner of United. That, and the accumulation of remarkable wealth; some £1.3bn has been required for the petrochemicals tycoon to purchase a 25 percent stake in United.

Now the Glazer family’s share of United is lower than it has been at any stage since their 2005 leveraged buyout. If one era has not ended, another has begun. Change is coming to the Old Trafford boardroom; perhaps to other levels of a club that has underachieved on the pitch in the last decade, too. The questions revolve around how much and how quickly, who and why and when.

Analysis by Senior Football Reporter, Richard Jolly

Sir Jim Ratcliffe will have no honeymoon as he faces urgent problems at Man United

Everything you still don’t know about the Manchester United takeover

16:32 , Jamie Braidwood

For all the noise around the Manchester United sale process over the past few months, there were a few key words that actually stood out as crucial to those involved. That was when the Ineos delegation met the club hierarchy and Sir Jim Ratcliffe was “blunt” about the many football failings. The billionaire, who took the same “helicopter view” of the sport as he does all his businesses, pointed to specific areas where United were drastically underperforming against similar clubs.

This contrasted with the Qatari delegation, who never actually included Sheikh Jassim. They went into no such detail.

It has all played into one of the biggest developments out of the major news that the Glazer ownership of United has finally been diluted. A minority stake has been sold to Ineos.

Ratcliffe’s football hierarchy – to be led by Jean-Claude Blanc – will not have to run decisions past the US-based siblings, in the way that has arguably hampered United for so long. A budget will be agreed at board level and that will then be completely under the purview of the Ineos sporting structure, who will have total control and authority over the sporting side of the club. That might seem unusual but it will in some way be a reversion to the structure under Sir Alex Ferguson and David Gill. The authority is there to make major decisions.

The importance of that in itself shouldn’t be underestimated. It is arguably a best-case scenario for supporters in the context of the Glazers staying, and something most would have eagerly accepted before at least November 2022.

Analysis by Chief Football Writer, Miguel Delaney

Everything you still don’t know about the Manchester United takeover

Who is Sir Jim Ratcliffe, the billionaire Ineos owner buying a stake in Manchester United?

16:21 , Jamie Braidwood

Sir Jim Ratcliffe has finally completed his 25 per cent investment in Manchester United to become a minority shareholder in the football giants.

Ratcliffe’s Ineos Group is expected to pay close to £1.3bn to buy 25 per cent of the Premier League club from the Glazer family and take control of football operations at Old Trafford.

Ratfcliffe grew up on a council estate in Manchester and supported the Old Trafford club as a child.

Here is what we know about the owner of petrochemicals giant Ineos.

Who is Sir Jim Ratcliffe, the billionaire Ineos owner buying a stake in Man United?

BREAKING! Manchester United confirm Sir Jim Ratcliffe deal

16:10 , Jamie Braidwood

Avram Glazer and Joel Glazer: “We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and Academy teams.

“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the club. 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. Manchester United has talented people right across the club and our desire is to always improve at every level to help bring our great fans more success in the future.”

BREAKING! Manchester United confirm Sir Jim Ratcliffe deal

16:05 , Jamie Braidwood

Sir Jim Ratcliffe: “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.

“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.

“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club– the Board, staff, players and fans – to help drive the club forward.

“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.”

BREAKING! Manchester United confirm Sir Jim Ratcliffe deal

16:03 , Jamie Braidwood

Manchester United confirm:

• Acquisition of 25% of the Class B shares held by the Glazer family

• Offer to acquire up to 25% of all Class A shares

• The Glazer family and Class A shareholders will receive the same price of $33.00 per share

• Further investment of $300 million in the Club

• INEOS delegated responsibility for management of football operations

• Completion of this deal is subject to receiving all necessary regulatory approvals including from the Premier League

BREAKING! Manchester United confirm Sir Jim Ratcliffe deal

16:02 , Jamie Braidwood

Confirmation from Manchester United:

BREAKING! Manchester United confirm Sir Jim Ratcliffe deal

16:01 , Jamie Braidwood

Sir Jim Ratcliffe has completed his purchase of a 25 percent stake in Manchester United and will be given footballing control of the club, Richard Jolly reports.

The Ineos billionaire, a lifelong United fan, has paid £1.3bn for Class B shares from the Glazer family, who retain the biggest take in the club, and will provide an extra $300m for investment in Old Trafford. Two-thirds of that will be available immediately, with the rest to follow by the end of 2024.

The petrochemicals magnate Ratcliffe vowed to try and unlock United’s potential and take them back to the top of English and European football. Erik ten Hag’s struggling team are currently eighth in the Premier League and were knocked out of the Champions League after finishing bottom of their group.

The sale of the stake to Ratcliffe ends a 13-month takeover process in which United also explored a sale, with the Qatari banker Sheikh Jassim making five bids, and Ineos first looking for a full buyout and then amending their offer to minority investment.

Sir Jim Ratcliffe set to complete Manchester United minority takeover today

Takeover announcement set for 4pm

15:55 , Jamie Braidwood

How will Manchester United announce the big news? A classic corner flag stock image? Or an Old Trafford shot?

We’ll have all the news, reaction and analysis.

Takeover announcement set for 4pm

15:44 , Luke Baker

A new update for you, Manchester United are set to announce the Sir Jim Ratcliffe takeover at 4pm GMT, so around 20 minutes’ time. This 13-month saga finally having a finish line in sight it seems.

Gary Neville slaughters timing of announcement

15:33 , Luke Baker

If you’re thinking that Christmas Eve afternoon, especially when it falls on a Sunday, is a strange time for Manchester United to announce a takeover deal that pretty significantly affects their future, well you’re not alone...

The always-outspoken Gary Neville has absolutely slaughtered the timing.

He posted on Twitter/X: “Manchester United 2023 has been a disgrace to the end. The timing of this is truly awful and no functioning organisation would even think about it. Anyway all the very best to Jim Radcliffe [sic] and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch.”

Sir Jim Ratcliffe set to complete Manchester United minority takeover today

15:21 , Luke Baker

Sir Jim Ratcliffe is set to become a minority shareholder in Manchester United after the long-awaited deal with the club’s owners, the Glazer family, is expected to finally be completed this afternoon.

The Independent understands that final details are now being sorted in the deal and the announcement should come later this afternoon after there was a significant breakthrough on Friday. The promise of an imminent announcement has been a regular occurrence over the past month, leading to some scepticism, although this time is understood to be different.

Ratcliffe’s Ineos Group is expected to pay close to £1.3bn to buy 25 per cent of the Premier League club.

Here’s the latest on the takeover from our football correspondents Miguel Delaney and Richard Jolly:

Sir Jim Ratcliffe set to complete Manchester United minority takeover today

Manchester United takeover - Sir Jim Ratcliffe

15:20 , Luke Baker

Welcome to The Independent’s live coverage of the expected Manchester United takeover by Sir Jim Ratcliffe.

Stick with us as we bring you all the key updates.