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Major news for Manchester United as Sir Jim Ratcliffe has just increased his stake in Manchester United.
Ratcliffe has made massive changes since buying his initial stake in United, taking over football operations.
Although his cost-cutting exercises have been controversial, they appear to be paying off on the global stage.
Yesterday the New York Stock Exchange, run by global investment bank UBS, announced a “bullish” move on United’s stock, Manchester United PLC (NYSE:MANU).
By giving the stock a “buy” rating, the institution has confidence that the club will soon have a higher standing once more in world football, challenging for titles and boosting the revenues as a result.
A key driver for this stance is Ratcliffe’s decision-making, showing a clear focus on managing costs at the club, showing a financial focus, coupled with their access to major revenue streams.
The financial institution has predicted a potential revenue of £800 million for The Red Devils over the coming years.
However, now another input from Ratcliffe has been finalised, increasing his ownership share of United.
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Sir Jim Ratcliffe increases his stake in Manchester United
Now, The Daily Mail has reported that the INEOS owner has put a further £79 million into the club, increasing his stake from 27.7% to 28.94%.
However, these extra funds will not be going towards transfers, instead being ringfenced for infrastructure across the club.
Whereas previously the stake at United has been under his own name, the 28.94% ownership will now join his other sporting investments under the INEOS umbrella.
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