Sir Jim's deal with the Glazers explained and what it means for Man Utd
Sky Sports News chief reporter Kaveh Solhekol explains what Sir Jim Ratcliffe's acquisition of 25 per cent of Manchester United could mean for the club moving forward...
It is quite complicated, they are buying 25 per cent of the Class B shares owned by the Glazer family.
Now these are super-voting shares, so although the Glazers only own 69 per cent of Manchester United, their shares come with voting rights, which means, effectively, they own 97 per cent of the club. They can make all the big decisions.
Ratcliffe and INEOS have bought 25 per cent of those shares, and they have also offered to buy 25 per cent of the Class A shares - they are the ones that are listed and traded on the New York Stock Exchange.
They are offering $33 a share, which is around £26, the same that they are offering to the Glazers as well, and the Board is recommending the shareholders on the New York Stock Exchange accept that offer of $33 a share, because that is far more than they have been trading at.
I think it's going to happen, it's going to take a while because it is going to have to go through the regulatory process at the New York Stock Exchange. It Is also going to have to go through a regulatory process at the Premier League which is going to take six to eight weeks.
He is said to be worth anywhere between £10bn and £20bn.
There is no formal agreement for Sir Jim Ratcliffe to buy any of the Glazers' shares in the future, but the Ineos chairman has the right of first refusal on any that they sell in the future.
There is going to be a new chief executive, because Richard Arnold has already left. There is talk that could be Jean-Claude Blanc, he is someone who already works at INEOS and had senior executive positions at Juventus and PSG as well.
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