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Manchester United sells 25 percent ownership stake to Jim Ratcliffe

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The Premier League (PL) team, Manchester United have sold 25 percent of the company’s shares to Jim Ratcliffe, chairman of INEOS.

In addition to acquiring up to 25% of Manchester United’s Class A shares, Ratcliffe has also acquired 25% of the team’s Class B shares. He is also going to add another $300 million, which will be used to help with future Old Trafford projects.

In exchange for the contract, INEOS has committed to managing the club’s football operations, including the academy and the men’s and women’s teams. Furthermore, this responsibility involves holding two seats on the boards of Manchester United and Manchester United PLC.

“The joint ambition is to create a world-class football operation building on the club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy,” a statement from the club read.

Born and raised in Manchester, Ratcliffe acknowledged the difficulties of taking over a team that is dealing with serious problems on the pitch. This season, the team got eliminated from the UEFA Champions League from the group stage itself and isn’t even in the top four in the PL heading into the holiday season.

“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. Whilst 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,” the statement from Ratcliffe read.

Following the deal’s conclusion, United’s Executive Co-Chairmen and Directors, Joel and Avram Glazer, released a joint statement claiming that it will aid in improving the team and its footballing activities.

“We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS. As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men’s, women’s and Academy teams.

“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game. Manchester United has talented people right across the Club and our desire is to always improve at every level to help bring our great fans more success in the future,” the statement read.

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NLO Hits Jackpot, Set To Sign Multi-Million Naira Sponsorship Deal

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The Nationwide League One (NLO) is set to sign its largest sponsorship deal worth millions of naira and also announce a partnership with two foreign service providers.

The four (4) year sponsorship agreement breaks records and represents a major step forward for the development of grassroots football in Nigeria.

NLO Chairman and former Deputy Governor of Nasarawa State, Silas Agara, shared further information about the agreement with.

“We are pleased with the various brands that have shown interest in the NLO in recent months as we want the NLO to become a global phenomenon as the most successful grassroots football league in Africa, as called for by the President of the NFF, Ibrahim Musa Gusau

“One of our partners is a lottery company licensed by the Nigerian Lottery Commission; will be the LO title sponsor. We have signed a sponsorship agreement with a term of four years. And we will reveal them on Thursday, March 14, 2024.

Twenty-four hours later, exactly on Friday, March 15, the NLO will present four of its possible partners.

“One of them is a service provider: a sports tracking platform based in Croatia with more than 25 million monthly active users worldwide. This is very good for our clubs. They have also directed the NLO to help them integrate other leagues in Nigeria.

“This is not about any monetary value, but about sharing the benefits of the development of our league and we have agreed to work with them.”

However, there is another IT company that has agreed to develop websites for all NLO clubs. They will also open social media channels for all clubs.

“They will train club officials to manage the websites and then market the website and social media so that clubs can generate funds to support their clubs.”

“The NLO sees this as a good avenue for club development and another source of income for NLO clubs.”

Agara further hinted: “Two more technical partners will join NLO as they will help facilitate talent discovery through the use of technology.

“The country’s third-tier national football league sees them as a development partner, and we have agreed to give them access to our data. The benefits for NLO are the revenue share from selling the data, we have a device that allows us to monitor what we see.”

In order to expand its reach to a wider audience and passionate fans of the league, NLO has in a separate development launched its two (2) channels on Blend TV.

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Sir Jim Ratcliffe’s Manchester United national stadium plan backed

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A vision for a new Manchester United ground that could double as a ‘Wembley of the North’ has been welcomed by council chiefs.

Sir Jim Ratcliffe, a co-owner of the club, has outlined his preference to replace Old Trafford with a ground that could be used as a national venue.

Trafford Council welcomed the proposal as part of its plans to regenerate the wider Trafford Wharf area.

But councillor Liz Patel said it would be up the club to fund a new stadium.

The club’s plans are a key element of Trafford Council’s Wharfside Development plans, which will go out to public consultation next week.

New stadium developments at Tottenham, Everton, and Manchester City have been highlighted by the council as good examples of how to regenerate an area and keep fans there for longer on match days.

Sir Jim told BBC sports editor Dan Roan that the 74,310-capacity Old Trafford had become “tired and in need of refurbishment”.

He said any plan to build a new stadium that could also be used as a national ground would require a “conversation” with the government about using taxpayer funds.

‘Great ambition’

Ms Patel, who is leading the council’s redevelopment plans, said a ‘Wembley of the North’ proposal “would be wonderful”.

“That is great ambition from Jim Ratcliffe and these plans match that in terms of the setting and the future of the area,” she said.

A new stadium built on adjacent land could cost around £2bn.

Ms Patel said the council would look for investment for the Wharfside plans, and “saw a role” for the council in “leading, guiding and securing” the funding.

“How United get together the finances for their own stadium refurbishment would be separate,” she said.

At a meeting of the council’s executive on Monday night, Ms Patel earned cross-party support for the regeneration plans, which could take up to 20 years realise.

She said Trafford Council had worked with Manchester United’s planning team to design improvements in the area for fans as part of the masterplan.

“We want to create a much more family-friendly space where people want to stay longer and have processional routes so it’s a lot safer for fans arriving on foot from tram stops or walking out from the city centre – as sometimes happens in European matches.”

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F1 Academy pens Tommy Hilfiger deal

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The all-female F1 Academy series has agreed a partnership with global lifestyle brand Tommy Hilfiger.

Contract:

  • Tommy Hilfiger will sponsor the entry of Spanish driver Nerea Martí
  • The brand will also design and provide all F1 Academy staff uniform

Context:

Tommy Hilfiger becomes the latest brand to support the upcoming season of F1 Academy, with Charlotte Tilbury and Puma already on board. There will be five designated partner liveries this season, in addition to each car supported by a Formula One team, which means there are two partnerships still to be announced.

This adds to Tommy Hilfiger’s existing partnership with the Mercedes Formula One team, first signed back in 2018, as well as its personal endorsement of Lewis Hamilton and, more recently, George Russell.

Comment:

“Tommy Hilfiger is one of the most recognised global lifestyle brands, so it is a great honour to welcome them to F1 Academy as an official partner,” said Susie Wolff, managing director of F1 Academy.

“Tommy Hilfiger is fully invested in our mission to improve female representation in motorsport, and their global brand platform will appeal to those outside of the motorsport world and help us to reach new audiences.

“I would like to personally thank Tommy and his team for sharing our vision and supporting a talented young driver in Nerea Martí.”

Coming next:

The F1 Academy season gets underway in Jeddah, Saudi Arabia in support of Formula One’s Saudi Arabian Grand Prix from 7th to 9th March.

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