The Premier League has finally approved Sir Jim Ratcliffe’s move to acquire a 25 percent stake in Manchester United.
Ratcliffe’s minority takeover was approved on Tuesday, following an independent review.
An official statement read: “‘Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United FC, and further investment of $300 million in the club, has been approved by the Premier League Board following the completion of the Owners’ and Directors’ Test (OADT).
“The Board agreed to the change of the club’s ownership structure last week, and this has now been officially ratified by an Independent Oversight Panel.
“The Premier League’s Owners’ Charter has also been signed. This is the first acquisition of Control to be reviewed and approved by a new Independent Oversight Panel following changes to the process which were agreed by Premier League clubs in March 2023.
“The Premier League now awaits confirmation of the transaction’s completion.”
Ratcliffe completed the initial deal in December and has now passed the Premier League’s Directors’ and Owners’ test.
However, completion of the deal is expected next week, as the FA approval is still needed.
Credit Gist New Today News in Newspaper Nigeria Headlines