Manchester United said Sunday that British billionaire Jim Ratcliffe had agreed to buy a minority stake in the storied Premier League club.
Erik ten Hag will stay on as Manchester United manager and is in negotiations to extend his contract, a person familiar with the situation told The Associated Press on Tuesday.
The person spoke on the condition of anonymity because the decision had not been publicly announced.
The decision ends months of uncertainty over Ten Hag’s future after he oversaw United’s worst league campaign in 34 years, but ended the season by winning the FA Cup with a victory over Manchester City.
United carried out an end-of-year review after last month’s cup final and decided to stick with Ten Hag, who has won two trophies in as many seasons since joining the club from Ajax in 2022.
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The FA Cup followed the English League Cup, which the Dutchman won in his first year at Old Trafford. But his second season in charge saw the 20-time champion suffer its lowest Premier League finish — eighth — losing 19 times in all competitions.
Ten Hag keeps his job in the face of a major overhaul of United’s soccer operations by new co-owner Jim Ratcliffe.
British billionaire Ratcliffe bought a 27.7% stake in the club in February and has hired a new CEO and technical director, with a sporting director on the way.
Ten Hag, who won three Dutch titles with Ajax, was Ratcliffe’s last major call. He survived despite failing to meet Ratcliffe’s challenge of securing Champions League qualification for next season.
Ten Hag is United’s fifth permanent manager since Alex Ferguson retired in 2013 during a period of decline on the field. It has gone 11 years without winning the title.
David Moyes, Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer all failed to return the club to its past glories.
Ten Hag went into the cup final under intense pressure and it was not known if a win would be enough to save his job.
His team produced an outstanding performance to beat four-time defending league champion City 2-1 at Wembley Stadium.
Afterward, an emboldened Ten Hag issued a defiant message, saying if United "don’t want me anymore then I go somewhere else to win trophies because that is what I did my whole career.”
Ratcliffe assumed control of United’s failing soccer operations after investing $1.3 billion in shares and injecting a further $300 million cash into the club.
He has quickly begun his overhaul with the appointment of former Manchester City executive Omar Berrada as CEO. City’s former academy head Jason Wilcox has been hired as technical director.
Newcastle’s Dan Ashworth is set to become sporting director.
