Manchester United are close to being under the control of Sir Jim Ratcliffe's INEOS Group after being given the green light by the Premier League.
The Red Devils announced in December a £1.3billion deal had been agreed for Ratcliffe to take a 25% stake, which will see him take control of the football operations at Old Trafford. The British billionaire has pledged to invest £239million into the club's infrastructure and work alongside the Glazers, who retain a majority stake.
The 71-year-old has passed the Premier League's Directors' and Owners' Test. Full completion is expected this week, once some outstanding regulatory details are signed finalise.
This includes receiving FA approval, which is required for Manchester United's participation in the Women’s Super League.
"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)," a Premier League statement read on Tuesday.
"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 is among the wealthiest men in Britain - but how does that compared to other Premier League owners such as Newcastle United's Public Investment Fund of Saudi Arabia and Liverpool's Fenway Sports Group? We take at every Premier League owner's reported net worth: