Connect with us

Premier League

‘Local boy’ Ratcliffe takes stake in Manchester United

blank

Published

on

Jubilation time?

British billionaire Jim Ratcliffe struck a long awaited deal on Sunday to buy a 25% stake in Manchester United and pledged to invest $300 million in the English Premier League soccer club to try to revive its fortunes.

The deal, which will also see Ratcliffe’s INEOS group take over management of the club’s soccer operations, ends more than a year of uncertainty after majority owners, the Glazer family, said in November 2022 they were looking at strategic options.

The Glazers have come under heavy criticism from fans for presiding over a decline in the club’s performance since former manager Alex Ferguson retired in 2013 following a period of unprecedented success.

“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,” Ratcliffe, 71, said in a statement.

“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.

Advertisement

“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.”

Ratcliffe’s stake purchase at $33 per share values the 20 times English champions at $6.3 billion including debt, a source familiar with the matter said.

The club said $200 million of Ratcliffe’s planned investment would be paid on closing of the deal, and a further $100 million by the end of 2024.

Qatar’s Sheikh Jassim bin Hamad al Thani had also looking at buying the club, but dropped out of the process, saying he would not raise his $6 billion offer.

Ratcliffe’s INEOS also owns French Ligue 1 club Nice, Swiss Super League side FC Lausanne-Sport, and works with Racing Club Abidjan of Ivory Coast Ligue One. It is also behind the Grenadiers, one of the world’s most successful cycling teams.

Advertisement

‘WEALTH OF EXPERIENCE’

“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the club,” United’s executive chairs Avram Glazer and Joel Glazer said.

“And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.”

Since Ferguson stepped down, United have cycled through five permanent managers and three caretakers but failed to recapture the glory days, winning one FA Cup, two League Cup trophies and a Europa League title in 11 years.

The Glazers’ adamant stance on not selling the club over the years has become a source of frustration for the fans who clamoured for change and held protests as the club’s net debt soared to over $600 million.

The Manchester United Supporters Trust (MUST) welcomed the investment from Ratcliffe but questioned the new structure that will be put in place and demanded a meeting with the INEOS team to understand its plans.

Advertisement

“We note the statements that he and his team will control sporting activities, yet puzzle how any organisation can put its very core business in the hands of a minority shareholder, and how that meaningfully works in practice,” MUST said in a statement.

“It is now incumbent on the club’s owners and management to properly explain how this new structure will work, where the new investment will be directed and how it will benefit the team on the field.”

Under Dutch coach Erik ten Hag, United are eighth in the Premier League table – 12 points off the top – despite a transfer outlay of nearly 1 billion euros ($1.1 billion) in the last six years.

They were also knocked out of European competitions after finishing last in their Champions League group.

“We are here for the long term and recognise that a lot of challenges and hard work lie ahead,” Ratcliffe added.

Advertisement

“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”

-Reuters

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

Continue Reading
Advertisement

Premier League

Liverpool stay top of Premier League as Arsenal, Man City win

blank

Published

on

blank
Liverpool's Cody Gakpo, centre left, Ryan Gravenberch, centre, and Diogo Jota celebrate after the English Premier League soccer match between Crystal Palace and Liverpool at Selhurst Park in London, Saturday, Oct. 5, 2024. AP

Liverpool beat Crystal Palace 1-0 to remain top of the Premier League as Arsenal and Manchester City came from behind to win on Saturday.

City were 3-2 victors over Fulham to stay one point behind Liverpool, alongside Arsenal who saw off Southampton 3-1.

Arne Slot has now won nine of his first 10 games since succeeding Jurgen Klopp as Liverpool manager, but was frustrated that the visitors invited a late onslaught from the winless Eagles.

Jota prodded the Reds into the lead from Cody Gakpo’s cross on nine minutes.

The Portuguese international was then guilty of missing two big chances to extend Liverpool’s advantage.

Advertisement

Palace failed to make them pay, but victory came at a cost for Slot as goalkeeper Alisson Becker limped off with a hamstring injury.

“If you score the second you break them mentally,” said Slot. “All the fans kept believing in a result because it was only 1-0, even though in my opinion we were the dominant team.”

Fresh from a dominant win over Paris Saint-Germain in the Champions League, Arsenal were expected to sweep aside winless Southampton.

But the Saints shocked the Emirates 10 minutes into the second half when Cameron Archer fired in his first Premier League goal since a summer move from Aston Villa.

The lead only lasted three minutes before Kai Havertz scored for the seventh consecutive home game.

Advertisement

Gabriel Martinelli was introduced after an hour and took just eight minutes to make his mark with a finish on the volley from Bukayo Saka’s cross.

Having set up Arsenal’s first two goals, Saka pounced on a loose ball to score the third himself.

Fulham’s outrageous opener
 

Rodri’s season-long absence due to a serious knee injury is expected to be a major blow to City’s chances of retaining the title for a fifth consecutive season.

But it was the Spaniard’s deputy Mateo Kovacic who scored twice to turn the game around for the champions at the Etihad.

The visitors had not lost since the opening night of the season at Manchester United and led thanks to Andreas Pereira’s finish from an outrageous backheel assist by Raul Jimenez.

Advertisement

Kovacic’s deflected effort quickly brought City level before a cleaner strike less than two minutes into the second half made it 2-1.

Jeremy Doku then smashed into the top corner from outside the box to give City a two-goal cushion, which they needed.

Rodrigo Muniz gave Fulham hope on 88 minutes, but City held out for a 17th consecutive win against the Cottagers.

West Ham eased the pressure on new boss Julen Lopetegui by ending a run of three home defeats to start the new season.

Michail Antonio, Mohammed Kudus, Jarrod Bowen and Lucas Paqueta struck for the Hammers in a 4-1 win over Ipswich, who are still waiting for their first Premier League win 22 years.

Advertisement

There were six goals before half-time as Brentford beat Wolves 5-3 to leave the visitors still rooted to the foot of the table.

Leicester secured their first league win of the season as Facundo Buonanotte’s strike beat Bournemouth 1-0.

Manchester United manager Erik ten Hag faces a huge match if he is to remain in charge when the Red Devils visit Aston Villa in the pick of Sunday’s action.

-AFP

Advertisement

 

Continue Reading

Premier League

Premier League rejects City request to delay next season’s games after Club World Cup

blank

Published

on

blank
 Premier League - Newcastle United v Manchester City - St James' Park, Newcastle, Britain - September 28, 2024 Manchester City manager Pep Guardiola reacts REUTERS/Scott Heppell/File photo

The Premier League has rejected Manchester City’s request to postpone the first two games of the 2025-26 season to help the players recover after their FIFA Club World Cup campaign in the U.S., the club’s manager Pep Guardiola said on Friday.

City and Chelsea are the two English clubs who have qualified for the expanded month-long Club World Cup set to start on June 15. The Premier League’s season will begin in August.

An increasingly packed soccer calendar has been a concern among a growing number of players and managers. A report by global players’ union FIFPRO said some players get only 12% of the year to rest.

The Premier League did not immediately respond to a request for comment outside regular business hours.

City midfielder Rodri said in September that players could be close to strike action over the time they are required to play. A knee ligament injury has since put him out for the season.

Advertisement

“I don’t know if we will play more games than the treble year (2022-23)… maybe we’ll play less games,” Guardiola told reporters.

“The Premier League has not allowed us to postpone the first two games for our recovery. Thank you so much. They don’t postpone these games so that will be the moment of, oh, what do we have to do?”

He said the Club World Cup will make it even more difficult for clubs to manage player workload.

-Reuters

Advertisement
Continue Reading

Premier League

Ten Hag’s Man United future not my call, Ratcliffe says

blank

Published

on

blank
FA Cup - Final - Manchester City v Manchester United - Wembley Stadium, London, Britain - May 25, 2024 Manchester United co owner Jim Ratcliffe is pictured in the stands before the match Action Images via Reuters/Andrew Couldridge/File Photo

Manchester United co-owner Jim Ratcliffe said a decision about under-fire manager Erik ten Hag is not his call, and was reticent about whether he still has faith in the team’s boss amid their worst start to the Premier League season since 1986-87.

“I don’t want to answer that question,” Ratcliffe told the BBC. “I like Erik. I think he’s a very good coach but at the end of the day it’s not my call, it’s the management team that’s running Manchester United that have to decide how we best run the team in many different respects.

“That team that’s running Manchester United has only been together since June or July. They weren’t there in January, February, March or April — Omar (Berrada, CEO), (Sporting Director) Dan Ashworth — they only arrived in July.

“They’ve only been there . . . you can count it in weeks almost — they’ve not been there a long time so they need to take stock and make some sensible decisions.”

Ten Hag’s job was the subject of speculation for much of last season en route to the team’s lowest Premier League finish of eighth. After an FA Cup final victory over Manchester City and an end-of-season review, however, Ten Hag signed a new contract to extend his stay at Old Trafford until 2026.

Advertisement

“Our objective is very clear, we want to take Manchester United back to where it should be, and it’s not there yet, obviously, that’s very clear,” Ratcliffe said.

Ten Hag continues to plead for patience from fans with the team languishing 13th in the Premier League table, having lost three of their six opening games. They were headed towards defeat by Porto in the Europa League on Thursday before Harry Maguire scored a last-gasp goal to salvage a 3-3 draw.

-Reuters

Advertisement
Continue Reading

Most Viewed