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English Football Association (FA) has approved British industrialist Sir Jim Ratcliffe’s acquisition of a 25 per cent stake in Manchester United. Ratcliffe and his INEOS sports paid $1.25 billion to get an ownership stake in one of England's biggest clubs, allowing them control of the footballing operations of the Red Devils.
On February 13, the English Premier League green-lit Ratcliffe’s acquisition. Ratcliffe and INEOS sports were examined under the Premier League's stringent Owners' and Directors' Test. This landmark acquisition is also the inaugural case approved by the Premier League's newly instituted Independent Oversight Panel.
Coming back to the recent development, a US Securities and Exchange Commission released a statement informing the FA's approval "has already been obtained." Ratcliffe now nears securing his place in the Old Trafford boardroom which still requires the finalisation of the tender offer for Class A shares. The period for the sale of Class A shares has been extended from February 14 until 23:59 on February 16.
Man United set sights on Dan Ashworth as sporting director: Reports
Manchester United are nearing a deal to bring in Dan Ashworth as their new sporting director, as per multiple reports. Ashworth is currently working for Newcastle United but has been United's top target for the role. The reports claim that the Red Devils are confident about Ashworth's appointment. Similarly, reports from Newcastle revealed that the 52-year-old has already made up his mind to move to Old Trafford.
