Sir Jim Ratcliffe is to commit $300m (£245m) to investing in the Red Devils’ ageing infrastructure as he prepares to seal the purchase of a large stake in the club later this month, Sky News can reveal.
Sir Jim Ratcliffe is to commit $300m from his multibillion pound fortune to Manchester United Football Club’s ageing infrastructure as part of a deal to acquire a 25% stake that will be unveiled this month. Sky News can exclusively reveal that Sir Jim, founder of the Ineos petrochemicals empire, will pledge the investment alongside the acquisition of a shareholding likely to be worth more than £1.25bn.
Analysts have suggested that it could be undertaken through a process known as a tender offer. The price that Ineos Sports will offer has also yet to be disclosed, although it will be at a very substantial premium to the $17.92 at which they closed on the New York Stock Exchange on Thursday. Some United fans have expressed disquiet at the prospect of Sir Jim buying a minority stake given that it paves the way for the Glazers' continued control.
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