British Billionaire Jim Ratcliffe To Buy Minority Stake In Manchester United

(RTTNews) - British billionaire Jim Ratcliffe agreed to acquire 25 percent of Manchester United's (MANU) Class B shares held by the Glazer family and up to 25 percent of Manchester United's Class A shares, the UK soccer team said in a statement.

The Glazer family and Class A shareholders will receive the same price of $33.00 per share.

Ratcliffe's Ineos Group will take control of football operations. Ratcliffe will also provide $300 million for future investment into the club's Old Trafford stadium.

Manchester United said in November 2022 that it commenced a process to explore strategic alternatives for the club. It would consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.