Manchester United Reportedly Set to Confirm 25% Stake Sale: Sky News reported Monday that British petrochemicals billionaire Jim Ratcliffe will buy a 25% share in Manchester United next week.
Manchester United Reportedly Set to Confirm 25% Stake Sale:
Ratcliffe, the founder and CEO of the Ineos Group, has been linked with a takeover of the famous club for a long time. According to Sky News, he will pay £1.25 billion ($1.58 billion) to buy 25% of the club’s public A-shares at $33 a share.
The story says that he will also buy 25% of the B-shares that the Glazer family currently owns, which give them more vote rights. Monday morning, shares of Manchester United were up 1.5%.
As part of the deal, Ratcliffe is likely to give the club around £245 million from his own money to fix up its old facilities.
We have asked both Ineos and Manchester United for their thoughts.
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After years of disappointing play compared to the club’s illustrious past and a lot of fan protests, the Glazer family started officially looking into a sale in November 2022. They had been in charge of the club since 2005.
Manchester United is seventh in the English Premier League right now, and they are almost out of the European Champions League after the group rounds.
The Red Devils are the most famous soccer team in English history, but their bitter rivals Manchester City have been on top for the last ten years. City won the Premier League, the Champions League, and the local cup last season.