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Sir Jim Ratcliffe has bought Man United using a company named after his favourite player at the club

Sir Jim Ratcliffe has bought Man United using a company named after his favourite player at the club

Sir Jim Ratcliffe and his INEOS team now own 25% of Manchester United

Marcus Chan

Marcus Chan

Sir Jim Ratcliffe has completed the 25% purchase of Manchester United using a company named after his favourite player.

On Sunday, the club announced that they had reached an agreement with Ratcliffe.

A statement read: “Manchester United plc (NYSE: MANU) announced today that it has entered into an agreement under which Chairman of INEOS, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional $300 million intended to enable future investment into Old Trafford.

“As part of the transaction, INEOS has accepted a request by the Board to be delegated responsibility for the management of the Club’s football operations. This will include all aspects of the men's and women's football operations and Academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards.”

According to The Athletic, the company buying shares in United is called Trawlers Ltd, which is a nod to Ratcliffe’s favourite player, Eric Cantona.

Trawlers Ltd is wholly owned by Ratcliffe in the Isle of Man.

Cantona famously spoke about seagulls and trawlers during a press conference in 1995 after an appeal hearing on the back of his kung-fu kick on a fan.

He said: “When the seagulls follow the trawler, it’s because they think sardines will be thrown into the sea.”

Image
Getty

Speaking after the deal was confirmed, Ratcliffe said: “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.”

Featured Image Credit: Getty

Topics: Manchester United, Eric Cantona, Sir Jim Ratcliffe, Football