Sir Jim Ratcliffe, the British billionaire, has further increased his shareholding in Manchester United, according to recent SEC filings. This move comes amidst a backdrop of financial difficulties at the club and mounting criticism of Ratcliffe’s stewardship.
Ratcliffe, through his company INEOS, has acquired an additional 1.24% stake in the club, bringing his total ownership to 28.94%. This latest investment, totalling around £79 million, follows his initial £1.2 billion purchase of a 27.7% stake last December.
Despite this significant investment, the Glazer family remains the majority shareholder of the Premier League club.
Financial Constraints and Managerial Turmoil
Manchester United has reported substantial losses over the past three seasons, exceeding £300 million. This financial strain has led to limited transfer budgets, with manager Ruben Amorim informed of restricted spending in the upcoming January window.
Furthermore, Ratcliffe’s tenure at United has been marked by controversy. He has faced criticism for raising ticket prices and neglecting the club’s women’s team. His decision to extend Erik ten Hag’s contract only to sack him shortly after, along with the dismissal of sporting director Dan Ashworth despite a significant transfer fee, has further eroded fan confidence.
Everton Finds New Owners
Meanwhile, Everton’s long-standing ownership saga has concluded with the completion of a takeover by the U.S.-based Friedkin Group. The American firm acquired a 94.1% majority stake from Farhad Moshiri, marking a significant shift in the club’s ownership structure.
Everton, currently struggling in 16th place in the Premier League, will soon move into a new riverfront stadium. Their next fixture is against Chelsea on December 22nd.
