Manchester United announces deal to sell up to 25% of EPL club to UK billionaire Jim Ratcliffe
ABC News
More than a year after it was put up for sale, Manchester United said Sunday that British billionaire Jim Ratcliffe had bought a minority stake in the storied Premier League club
MANCHESTER, England -- More than a year after it was put up for sale, Manchester United said Sunday that British billionaire Jim Ratcliffe had agreed to buy a minority stake in the storied Premier League club.
Ratcliffe, who owns petrochemicals giant INEOS and is one of Britain’s richest people, has bought a stake of “up to 25%” of the 20-time league champions and will invest $300 million in its Old Trafford stadium.
As part of the deal, United said Ratcliffe would take responsibility for the club’s soccer operations.
Ratcliffe, who was born in Failsworth, Greater Manchester, had originally bid to buy American owners, the Glazers’, majority share of around 69%.
“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 said.
