Sir Jim Ratcliffe’s 25% purchase of Manchester United has been ratified by the Premier League and, though the Football Association is yet to complete its part of the process, this is considered a formality.
Any new owner or director of a Premier League club has to pass the governing body’s owners’ and directors’ test. Ratcliffe, it is understood, has done so.
Of the test the Premier League states: “The owners’ and directors’ test outlines requirements that would prohibit an individual from becoming an owner or director of a club. These include criminal convictions for a wide range of offences, a ban by a sporting or professional body, or breaches of certain key football regulations, such as match-fixing.”
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The FA also has to ratify Ratcliffe’s buy-in but no stumbling blocks are expected, as is the case regarding A-share holders, who have until Friday to refuse the 71-year-old’s off er of $33 per share. While Ratcliffe purchase is capped at 25% of A-shares, 36.7% of A shares have been tendered for sale.
