The Premier League has approved the sale of Manchester United

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The Premier League on Tuesday approved the sale of 25% of Manchester United to British billionaire Jim Ratcliffe, owner of the chemical company INEOS, for 300 million euros.

The Premier League board approved the transaction last week and on Tuesday it received approval from an independent commission that verifies whether the buyer meets the test for owners and owners.

This is evidence of recent implementation and did not exist, for example, when Manchester City was bought by the United Arab Emirates or when Newcastle United was bought by Saudi Arabia.

The The Glazer family, who have owned the club since 2005opened a partial or total sale process last year to receive new investment, and with the arrival of Ratcliffe, this chapter is closed, aiming to maintain the club’s financial success and revive the sporting success, which has declined since 2013 , the year in which he retired Alex Ferguson and who won the last Premier League.

As part of this deal, Ratcliffe will remain in charge of the club’s sporting operations, in addition to injecting 300 million pounds (330 million euros) into United’s coffers, for investments both in transfers and in the remodeling of the Old Trafford stadium.

The Ratcliffe’s offer was accepted by the club in Decemberdefeated Qatar, who offered 5,000 million to take over the entire club, but never gave guarantees to carry out the operation.

The final step for the purchase to become fully official is receiving approval from the English federation (FA).

Source: La Verdad

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