The Premier League has authorized Jim Ratcliffe’s acquisition of a 25% share in Manchester United

According to reports, Ratcliffe already has plans to oversee a team change for United following a challenging season for a team that last won the Premier League in 2013.
The Premier League has approved British businessman Jim Ratcliffe’s acquisition of a 25% share in Manchester United. Ratcliffe’s investment was approved by the Premier League, according to a Monday evening statement to the US Securities and Exchange Commission (SEC).

Ratcliffe stated that the arrangement, which will give him command over football operations at Old Trafford, may be finalized by mid-February. United is currently awaiting Football Association permission.
In a statement released by the Premier League on Tuesday, the league confirmed that Sir Jim Ratcliffe’s purchase of 25% of Manchester United FC and additional $300 million investment in the team had been approved by the Premier League Board after the Owners’ and Directors’ Test was finished.

“An Independent Oversight Panel has now formally approved the ownership structure change that the Board approved last week for the club. The Owners’ Charter of the Premier League has also been signed. “The Premier League now awaits confirmation of the transaction’s completion.”

Ratcliffe’s investment was reportedly approaching a resolution on Tuesday. The time frame for Class A share holders to tender their shares for sale has been extended from February 14 till February 16 at 23:59 p.m.
36.7 percent of Class A shares have been offered thus far, which is already sufficient to finish the 25% acquisition.

On Christmas Eve, it was revealed that INEOS chairman Ratcliffe had agreed to pay the controversial Glazer family around £1.02 billion ($1.3 billion) for a 25% share in United.
In addition, Ratcliffe plans to spend an additional £238 million on the club’s infrastructure.
As the investment draws closer to completion, the 71-year-old has held a number of meetings with club employees and associates in recent days.

Ratcliffe has spoken with senior Trafford Council representatives, Greater Manchester Mayor Andy Burnham, and leaders of the independent Manchester United Supporters’ Trust.
The childhood United supporter was also there at last week’s Munich Air Disaster memorial.
According to reports, Ratcliffe already has plans to oversee a team change for United following a challenging season for a team that last won the Premier League in 2013.