The English Premier League announced on Tuesday that Sir Jim Ratcliffe's English Powerhouse Group has been approved by the league's board to acquire a 25% stake in Manchester United. Along with the acquisition, the group will invest an additional $300 million in the club. This transaction has undergone the necessary Owner and Director Test, and was officially approved by the Premier League's board after accepting the changes to the club's ownership structure.

These changes were made in accordance with the modifications made to the Ownership Charter by the English Premier League clubs in March 2023. The amended charter reduced the ownership threshold required for control from 30% to 25%. The approval process involved the newly established independent oversight group, which reviewed and authorized the alterations to the ownership structure.

The independent oversight group, chaired by Murray Rosen KC, was appointed in 2023 by the Premier League to oversee the decisions made by the board in accordance with the League's Rule F (Owner and Director Test). The group consists of 8 to 15 members, including the chairperson, who are appointed independently from the clubs and the league.

When the board makes decisions based on the Owner and Director Test, the chairman appoints one or more reviewers from the independent oversight group to review the decisions. These reviewers assess whether the board's decisions are reasonable in all circumstances, based on the relevant information available.

The members of the independent oversight group are entirely independent from the clubs and the league. They cannot be representatives or employees of the Premier League, officials or directors of the clubs (or EFL member clubs), or individuals who have significant influence on the clubs (or EFL member clubs), as defined in the Rules.

Each member of the independent oversight group serves a maximum term of five years. At the end of their term, the chairman has the discretion to decide whether to reappoint them or not.

For more detailed information on the independent oversight group, please refer to Appendix 21 of the Premier League Handbook.

The English Premier League now awaits the confirmation of the completion of the transaction. Once finalized, Sir Jim Ratcliffe's English Powerhouse Group will hold a significant stake in Manchester United, contributing to the ongoing growth and development of the club.