Sir Jim Ratcliffe has acquired 25 per cent of Manchester United and will take control of football operations soonest according to reports on the Club’s website.
An announcement finally came on Christmas Eve, bringing an end to 13 months of talks about a potential takeover of the Old Trafford club.
It is expected Sir Dave Brailsford – INEOS director of sport – and Jean-Claude Blanc – CEO of INEOS Sport and a former executive at Juventus and Paris St-Germain – will have seats on the Manchester United club board.
The deal, which comes amid a torrid season for United on the pitch, is still to be approved by the Premier League – a process expected to take between six and eight weeks.
There is no formal agreement for Ratcliffe to buy any of the Glazers’ shares in the future but the Ineos chairman has the right of first refusal on any they sell in the future.