INEOS specified in a statement that Ratcliffe's acquisition comprises 25% of the club's Class B shares and a potential 25% of publicly available Class A shares. Additionally, it was disclosed that Ratcliffe would contribute an additional $300 million, earmarked for future investments into the historic Old Trafford stadium. The Glazer family, the majority owners of the club, and Class A shareholders are set to receive $33.00 per share, maintaining parity with the share price at the time of the announcement. Notably, Manchester United shares closed at $19.81 on the preceding Friday.

As of May, Forbes had valued Manchester United at $6 billion, positioning it just behind Real Madrid as the world's second-most valuable soccer club. However, the shares of Manchester United had experienced a nearly 13% decline in 2023.

It is important to highlight that the completion of this deal is contingent on approval from the English Premier League.

Avram Glazer and Joel Glazer, the executive co-chairmen and directors of Manchester United, expressed their satisfaction with the agreement, stating, "We are delighted to have agreed to this deal with Sir Jim Ratcliffe and INEOS." They emphasized that the strategic review initiated in November 2022 aimed to explore various alternatives to enhance the club's overall performance, focusing on success across men's, women's, and Academy teams.

The announcement underscores a joint ambition between the involved parties to build a world-class football operation, leveraging Manchester United's existing strengths, including its successful off-pitch performance.

This sale materialized following more than a year of speculation about the Glazer family's potential willingness to entertain offers for the club. The Florida-based family, owners since 2005 and also holding the NFL's Tampa Bay Buccaneers, had reportedly considered bids from various entities, including Qatari investor Sheikh Jassim bin Hamad Al Thani, who withdrew his bid in October.