Manchester United announces deal to sell up to 25% of EPL club to UK billionaire Jim Ratcliffe
Associated Press
Soccer: Sir Jim Ratcliffe Set to Acquire 25% Stake in Manchester United
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The Facts
British billionaire Sir Jim Ratcliffe has agreed to buy a 25% stake in Manchester United at about £25 ($33) per share and provide a further £245M ($300M) investment to improve Old Trafford. However, the deal could take up to eight weeks to complete, pending all necessary regulatory approvals.
In an open letter to United fans published on Tuesday by Manchester United Supporter's Trust, Ratcliffe has vowed to be "ambitious" but admitted the need for "time and patience" to take the club back to the "very top of English, European and world football."
The Spin
Narrative A
After disastrous years under the Glazer family promoted a culture of incompetence at Old Trafford, this acquisition represents a new dawn for United fans. It's certain that only time will judge whether Ratcliffe can make a difference, but his plans to appoint a sporting director could prove the most important decision since the appointment of Sir Alex Ferguson back in 1986.
Narrative B
Though an undeniable commercial superpower, Manchester United has long been a mess on and off the pitch as the club has failed to invest in infrastructure, and its billionaire spending since Sir Alex Ferguson retired hasn't translated into a major title challenge. Ratcliffe may have the best intentions for the club, but because United faces pressing issues, it could take too long for his vision to be realized.
