After finally announcing Sir Jim Ratcliffe’s 25 per cent minority investment on Christmas Eve, Manchester United released the granular details of the $1.3bn (£1bn) deal moments after the final whistle sounded on Boxing Day’s 3-2 comeback victory over Aston Villa.
It is fair to say that the 241 pages of the filing with the U.S. Securities and Exchange Commission (SEC) is not as thrilling as Rasmus Hojlund’s 82nd-minute winning goal.
Yet this dense and lengthy deconstruction of one of the more complicated financial transactions in English football history will have longer-lasting implications than any three points.
It details how the initial and future share purchases will be executed, what remaining hoops the deal needs to jump through, and how the Glazer family and Ratcliffe will manage the transitional period before handing over sporting control to INEOS.
Here, The Athletic breaks down what is contained within those 241 pages and the vision of United’s future it sets out…
How will control of football operations work?
It may not be the full sale many United supporters hoped for when the strategic review was announced last year, but Ratcliffe’s minority stake comes with an important benefit: control of football operations at men’s, women’s and academy level.
In that…
