The English Premier League (EPL) has announced the approval of Sir Jim Ratcliffe's acquisition of Manchester United shares. The official statement stated that Sir Jim Ratcliffe, through his company INEOS Sport, has acquired 25% of the club's shares and will further invest $300 million. This approval comes after completing the Owner and Director Test (OADT) and obtaining the approval of the EPL board. The board agreed to the change in ownership structure last week, which has now been formally approved by an independent supervision panel. The EPL is currently awaiting confirmation of the completion of the transaction.

As part of the deal, INEOS Sport, a division of Ratcliffe's INEOS Group, will take over the football operations control of Manchester United. This includes overseeing the affairs of the men's team, women's team, and all levels of the club's youth academy. The approval by the EPL marks a significant step towards the completion of the transaction.

The acquisition of shares in Manchester United by Sir Jim Ratcliffe's INEOS Group has been priced at £1.25 billion. Additionally, INEOS Group will provide £245 million in funding for the upgrade of Old Trafford Stadium and its infrastructure. The investment aims to enhance the facilities and provide a better matchday experience for the fans.

This deal, however, is subject to regulatory approval from various authorities, including the EPL. Once all necessary approvals are obtained, the transaction will be completed, and INEOS Sport will become a significant shareholder in Manchester United.Sir Jim Ratcliffe, known for his successful business ventures, is set to bring his expertise and resources to support the development of Manchester United. INEOS Group has previously shown interest in sports investments, and this acquisition further strengthens their presence in the football industry.Fans and stakeholders will be eagerly watching the developments surrounding this acquisition. The financial injection from INEOS Group is expected to provide stability and potential growth for Manchester United, enabling the club to compete at the highest level both domestically and internationally.The completion of this transaction will also have wider implications for the EPL and the competitive landscape of the league. The involvement of INEOS Sport in one of the biggest clubs in English football could spur further investments and innovations throughout the league.It remains to be seen how Sir Jim Ratcliffe and INEOS Sport will shape the future of Manchester United and if their involvement will lead to a resurgence of success for the club. Nonetheless, this acquisition marks a significant milestone in the history of the renowned football franchise.