Ratcliffe’s deal for a 25% stake in Manchester United could be agreed this month, the BBC reports
British billionaire Sir Jim Ratcliffe is reportedly close to clinching a deal to become a minority stakeholder in Manchester United.
Shares of Manchester United Ltd. MANU, -0.72% are down 0.3% Friday, compared with the S&P 500 index’s SPX gain of 0.5%. The stock ended Thursday’s session down 0.1%.Ratcliffe is the chief executive of the chemical giant Ineos, which is expected to pay around $1.52 billion for a 25% stake in Manchester United, the BBC reports.
Ratcliffe was locked in a battle with Qatar’s Sheikh Jassim to wrest control of Manchester United from the American Glazer family. In September Bloomberg reported that Ratcliffe was restructuring his Manchester United bid in an attempt to break the months-long deadlock in the takeover battle.The Glazers took control of Manchester United in 2005. In November 2022, they confirmed they were exploring potential financial investment in — or an outright sale of — the Premier League club.
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