INEOS will immediately take control of all football operations across the men’s, women’s and academy teams.
The Glazers must immediately consult Ratcliffe and his confidants on all sporting decisions, including the January transfer window, despite Premier League approval expected to take as many as six weeks.
An announcement came over one year after the American owners confirmed a strategic review had commenced in November 2022.
The complicated nature of the deal, which will see Ratcliffe’s stake increase to 29 per cent once his arrival is confirmed, contributed to the drawn-out process.
And the Glazers have taken measures to ensure United’s employees don’t discuss the investment with the media or even their friends and family.
After United announced Ratcliffe’s agreement at 4pm on Christmas Eve, staff members received the memo signed off by Joel and Avram Glazer on behalf of the club’s board.
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“Please note that there are certain legal rules that govern permissible communications during this process. Accordingly, please avoid commenting on this transaction on any social media channels,” the email read.
“If you are approached by the media, please refrain from commenting, and refer all inquiries to Ellie Norman, Chief Communications Officer.
“In addition, if you are asked about this transaction by friends or family, you may refer to the information that is publicly available on the Manchester United website, but please do not make any speculative comments or insert your own opinions or beliefs regarding the transaction.
“Best wishes, Joel Glazer and Avram Glazer. On behalf of the MUFC Board.”
Ratcliffe is investing his own riches into the club he has supported his whole life through a solely-owned acquisition company, Trawlers Ltd, named after a famous Eric Cantona quote.
He has also set just over £235m aside to set the wheels in motion for the redevelopment of Old Trafford.
The 71-year-old tycoon has delegated seats on the football board to key INEOS figures, Sir Dave Brailsford and Jean-Claude Blanc, strongly linked to the currently vacant chief executive role.
John Reece, INEOS chief financial officer, and Rob Nevin, INEOS Sport chairman, will have seats on the PLC board.
