The latest filing from the US Securities and Exchange Commission (SEC) reveals that Sir Jim Ratcliffe’s Man United investment moves a step closer.
The British billionaire has acquired 25% of Man United. But the Premier League has yet to confirm the deal since an agreement between the Glazers and OGC Nice owner has been announced on Christmas Eve.
Daily Mail journalist Chris Wheeler has now taken to social media platform X to share a picture confirming the latest SEC filing. However, Man United held a shareholders meeting where those with 1,133,983,149 votes of the Class A ordinary shares and Class B ordinary shares were present in person or represented by proxy.
Sir Jim Ratcliffe’s being in-charge of Man United
The votes were in favour of allowing Ratcliffe to take Class B shares with enhanced voting power. Which means, this is another major step in the completion process. Ratcliffe has spent £1.25 billion in acquiring his stakes. He has pledged up to £245 million towards infrastructure work and improvements at Old Trafford and the Carrington Training Centre.
Being able to acquire Class B shares and retain their enhance voting power been a major necessity in his agreement. However, the process to allow it to happen required a voting process.
While most of the Class A shareholders voted against the proposal, all Class B shareholders voted for it. This has now brought Ratcliffe a step closer to formally completing the deal. The businessman and his team have already started working. He has taken over the footballing operations of Man United.
Ratclife has done appointing the former Man City chief Omar Berrada as the new Chief Executive Officer of Man United. They also plan to appoint a new director of football within the next few weeks. Newcastle United’s director of football, Dan Ashworth and former Liverpool sporting director Julian Ward are favourites for the job.
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