Key takeaways:
- British billionaire Jim Ratcliffe has agreed to buy a minority stake in Manchester United, worth around $1.6 billion.
- Ratcliffe will provide $200 million upon completion of the deal and a further $100 million by the end of 2024.
- The investment will help to ensure that the club can remain competitive in the future.
Manchester United, one of the most successful football clubs in the world, has announced that British billionaire Jim Ratcliffe has agreed to buy a minority stake in the club. Ratcliffe, who owns petrochemicals giant INEOS and is one of Britain’s richest people, will invest up to 25% in the 20-time league champions and will provide $300 million in funding for the club’s Old Trafford stadium.
The deal, which is worth around $1.6 billion, will see Ratcliffe provide $200 million upon completion of the deal and a further $100 million by the end of 2024. As part of the agreement, Ratcliffe will also take responsibility for the club’s soccer operations.
The announcement comes more than a year after Manchester United was put up for sale, and marks a significant investment in the club’s future. Ratcliffe’s investment will help to ensure that the club can continue to compete at the highest level in the Premier League.
Ratcliffe’s investment is a major boost for Manchester United, and is likely to be welcomed by the club’s fans. The club is now in a strong position to continue its success on the pitch, and Ratcliffe’s investment will help to ensure that the club can remain competitive in the future.
Be First to Comment