The Premier League has finally authorized Sir Jim Ratcliffe’s plan to purchase a 25 percent share in Manchester United.
Ratcliffe’s minority takeover was authorized on Tuesday, after an independent assessment.
According to an official announcement, the Premier League Board has authorized Sir Jim Ratcliffe’s acquisition of 25% of Manchester United FC, as well as a $300 million investment in the club, following the conclusion 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.” Ratcliffe finalized the original transaction in December and has since passed the Premier League’s Directors’ and Owners’ test.
However, completion of the transaction is likely next week, since the FA clearance is still needed.
