British billionaire Jim Ratcliffe struck a long awaited deal on Sunday to buy a 25 per cent stake in Manchester United and pledged to invest AED 1.1 billion in the English Premier League soccer club to try to revive its fortunes.
The deal, which will also see Ratcliffe’s INEOS group take over management of the club’s soccer operations, ends more than a year of uncertainty after majority owners, the Glazer family, said in November 2022 they were looking at strategic options.
The Glazers have come under heavy criticism from fans for presiding over a decline in the club’s performance since former manager Alex Ferguson retired in 2013 following a period of unprecedented success.
“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,” Ratcliffe, 71, said in a statement.
“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.”
Ratcliffe’s stake purchase at AED 121 per share values the 20 times English champions at AED 23.14 billion including debt, a source familiar with the matter said.
The club said AED 734.5 million of Ratcliffe’s planned investment would be paid on closing of the deal, and a further AED 367.2 million by the end of 2024.
Qatar’s Sheikh Jassim bin Hamad al Thani had also looking at buying the club, but dropped out of the process, saying he would not raise his AED 22 billion offer.
Ratcliffe’s INEOS also owns French Ligue 1 club Nice, Swiss Super League side FC Lausanne-Sport, and works with Racing Club Abidjan of Ivory Coast Ligue One. It is also behind the Grenadiers, one of the world’s most successful cycling teams.
“Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the club,” United’s executive chairs Avram Glazer and Joel Glazer said.
“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.”
Since Ferguson stepped down, United have cycled through five permanent managers and three caretakers but failed to recapture the glory days, winning one FA Cup, two League Cup trophies and a Europa League title in 11 years.
The Glazers’ adamant stance on not selling the club over the years has become a source of frustration for the fans who clamoured for change and held protests as the club’s net debt soared to over AED 2.2 billion.
The Manchester United Supporters Trust (MUST) welcomed the investment from Ratcliffe but questioned the new structure that will be put in place and demanded a meeting with the INEOS team to understand its plans.
“We note the statements that he and his team will control sporting activities, yet puzzle how any organisation can put its very core business in the hands of a minority shareholder, and how that meaningfully works in practice,” MUST said in a statement.
“It is now incumbent on the club’s owners and management to properly explain how this new structure will work, where the new investment will be directed and how it will benefit the team on the field.”
Under Dutch coach Erik ten Hag, United are eighth in the Premier League table – 12 points off the top – despite a transfer outlay of nearly AED 4 billion euros in the last six years.
They were also knocked out of European competitions after finishing last in their Champions League group.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead,” Ratcliffe added.
“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.”
Indian chess star Praggnanandhaa Rameshbabu produced a brilliant final-round victory to win Norway Chess 2026, capping a dramatic finish to one of the year’s most prestigious tournaments.
Entering the final day half a point behind leader Wesley So, Praggnanandhaa knew only a win would give him a realistic chance of claiming the title. The 19-year-old delivered under pressure, defeating Vincent Keymer with the white pieces to secure the full three points and surge to first place.
The victory lifted Praggnanandhaa to 18 points, enough to overtake Wesley So and clinch the Norway Chess crown in Oslo.
So, who had led the standings heading into the final round, drew his classical game against Alireza Firouzja before winning the Armageddon tiebreak. However, the extra points were not enough to keep him ahead of the charging Indian grandmaster.
Firouzja completed a strong campaign to finish third overall.
Elsewhere, world No. 1 Magnus Carlsen signed off in style with a classical victory over reigning world champion Gukesh Dommaraju, delighting home fans with a final-round win.
Final Standings
Praggnanandhaa Rameshbabu – 18 points
Wesley So – 17 points
Alireza Firouzja – 15.5 points
Assaubayeva dominates women’s event
In the Norway Chess Women’s tournament, Bibisara Assaubayeva completed a dominant campaign to secure the title after having already wrapped up first place with a round to spare.
The final day featured three decisive classical games, eliminating the need for Armageddon tiebreaks.
Women’s world champion Ju Wenjun handed Assaubayeva her first classical defeat of the tournament, while Zhu Jiner defeated Humpy Koneru to secure second place overall. Anna Muzychuk also ended her campaign on a high note with a victory over Divya Deshmukh to finish third.
Norway Chess women’s final standings
Bibisara Assaubayeva – 16.5 points
Zhu Jiner – 16 points
Anna Muzychuk – 15 points
Praggnanandhaa’s triumph marks another major milestone in the young Indian grandmaster’s rapidly rising career and further strengthens India’s growing influence at the highest level of world chess.
The battle for the Norway Chess 2026 title is set for a thrilling finish after a dramatic Round 9 left three players firmly in contention heading into the final day in Oslo.
Tournament leader Wesley So maintained his narrow advantage after drawing his classical game against Magnus Carlsen before winning the Armageddon tiebreak to secure valuable extra points.
The standout result of the day came from Praggnanandhaa Rameshbabu, who defeated reigning world champion Gukesh Dommaraju with the black pieces. The victory earned Praggnanandhaa three points and moved him to within half a point of the tournament lead.
Meanwhile, Alireza Firouzja kept his championship hopes alive by overcoming Vincent Keymer in Armageddon after their classical game ended in a draw.
With one round remaining, Wesley So leads the standings on 15.5 points, followed by Praggnanandhaa on 15 points and Firouzja on 14.5 points, setting up a nail-biting conclusion to the tournament.
Assaubayeva seals women’s title
In the women’s competition, Bibisara Assaubayeva secured the Norway Chess Women 2026 title with a round to spare.
Assaubayeva drew her classical game against Anna Muzychuk, who later claimed the Armageddon win. However, the result was enough to guarantee Assaubayeva an unassailable lead at the top of the standings.
The only decisive classical result in the women’s event came from Zhu Jiner, who defeated Divya Deshmukh to move into second place.
Elsewhere, Humpy Koneru and Ju Wenjun drew their classical encounter before Ju Wenjun claimed the Armageddon victory.
After Round 9, Assaubayeva tops the women’s standings with 16.5 points, ahead of Zhu Jiner on 13 points and Anna Muzychuk on 12 points.
Dubai is accelerating its ambitions to become one of the world’s top sporting destinations, unveiling a long-term strategy designed to significantly boost economic impact, increase community participation and attract more global sporting events over the next decade.
Under the Dubai Sports Sector Strategic Plan 2033, the emirate aims to grow the sports industry’s contribution to the economy from Dh10.17 billion to Dh18.3 billion by 2033, reinforcing sport as a key pillar of Dubai’s economic and social development agenda.
The strategy also sets ambitious participation targets, with the number of people actively engaged in sports expected to rise from 1.6 million to 2.6 million. Annual attendance at major sporting events is projected to surge from 1.67 million to more than 4.1 million spectators during the same period.
The announcement was made during a strategic industry gathering organised by the Dubai Sports Council, which brought together sports event organisers, facility operators and industry leaders to discuss future opportunities and challenges shaping the emirate’s sporting landscape.
Hosted in collaboration with JA Sports & Shooting Club at JA The Resort, the meeting also included an exclusive preview of the region’s newest integrated multi-sport destination ahead of its public launch.
Dubai already hosts more than 500 sporting events annually, including over 100 international championships, highlighting its growing reputation as a preferred destination for elite competitions and global sporting experiences.
Officials outlined how the Sports Sector Strategic Plan 2033 will build on this momentum through continued investment in world-class infrastructure, stronger partnerships with the private sector and initiatives designed to encourage wider community engagement in sport.
Speaking during the session, Essa Sharif, Director of the Sports Events Department at the Dubai Sports Council, noted that sporting events have evolved beyond competition to become powerful drivers of economic growth, quality of life and international visibility for the emirate.
The strategy also places a strong focus on nurturing future talent across sports such as football, golf, padel and badminton, while creating pathways for young athletes to progress professionally and compete at higher levels.
As Dubai continues to invest in sporting infrastructure and international events, the Sports Sector Strategic Plan 2033 is expected to play a central role in shaping the emirate’s ambition to become the world’s leading sporting city by the end of the decade.