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EPL approves Ratcliffe acquiring ManU stake

Sir Jim Ratcliffe at Old Trafford, home of Manchester United. Manchester United owners, the Glazer family, announced last November they were conducting a strategic review, with the sale of United one option being considered. Qatari banker Sheikh Jassim Bin Hamad Al Thani and INEOS founder Sir Jim Ratcliffe have bid to buy United, with both parties visiting the club this week. Picture date: Friday March 17, 2023. (Photo by Peter Byrne/PA Images via Getty Images) PA Images via Getty Images

The Premier League has confirmed Jim Ratcliffe 's acquisition of 25% of Manchester United has been "approved following the completion of the Owners' and Directors' Test." Ratcliffe is now on the verge of securing a stake in ManU worth about US$1.64B, with "final confirmation of the deal anticipated shortly." ManU are "still awaiting approval from the Football Association," but club sources said that the process is "proceeding positively towards completion" ( MANCHESTER EVENING NEWS, 2/13 ).

Ratcliffe becomes the "first person to pass the Premier League’s new owners’ and directors’ test." The process of completion is "expected to be a formality," and a formal announcement "could be made as early as next week." An SEC filing on Monday confirmed the deadline for the tender offer has been "extended from February 14 until midnight on February 16," giving shareholders "additional time to refuse the deal." But there are "no concerns that might happen" ( London TIMES, 2/13 ).



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