From Dow Jones & Company:



British billionaire Sir Jim Ratcliffe has agreed to purchase a 25% stake in Manchester United soccer club for about £1.25 billion ($1.3 billion). As part of the deal, Ineos Group, owned by Ratcliffe, will take control of the club’s football operations and provide $300m for investment into Old Trafford. The announcement comes after the club’s owners, the Glazer family, stated they were considering selling the club. United have struggled in recent years, leading to regular protests against the Glazer ownership. Ratcliffe, a lifelong supporter of the club and chairman of petrochemicals company Ineos, expressed his ambition to see Manchester United back at the top of English, European, and world football. The club stated that the deal is subject to regulatory approvals and hopes for it to be completed soon. Ratcliffe will pay $33 a share for the stake in the club, valuing it at $5.4 billion, falling below initial hopes of $6 billion. The deal brings hope for future investment and a potential change in the club’s performance and success.



Original: Manchester United football club announces deal to sell up to 25% of club to Jim Ratcliffe