Gary Neville criticised the “truly awful” timing of Manchester United’s confirmation that Sir Jim Ratcliffe has agreed to buy a 25 per cent stake in the club after the deal was announced at 4pm on Christmas Eve.
After months of talks, United have finally confirmed that they had entered an agreement with the Ratcliffe and the Ineos Group, who will assume delegated responsibility for the club’s football operations.
Ratcliffe will acquire 25 per cent of the Class B shares held by the Glazer family and up to 25 per cent of the Class A shares while investing $300m (£236.7m) into its infrastructure.
The sale of the stake to Ratcliffe ends a 13-month takeover process, and Neville, an outspoken critic of the Glazer family, said his former club had been a “disgrace to the end” in 2023 following a dismal run of form on the pitch.
“The timing of this is truly awful and no functioning organisation would even think about it,” Neville posted on Twitter/X.
“Anyway all the very best to Jim [Ratcliffe] and I hope he can somehow work out a way to get the club right again and back to being something respectable on and off the pitch.”
United also explored a full sale at the start of the takeover process, with the Qatari banker Sheikh Jassim making five bids, and Ineos first looking for a full buyout and then amending their offer to minority investment.
The deal values United at more than £5bn with shares priced at $33, far higher than their value on the stock market while Ineos’ footballing control is expected to bring seats on the board. The new regime is also expected to appoint a new chief executive, with Richard Arnold standing down.
Ratcliffe said: “As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football operations of the club.
“While the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider Ineos Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
