British billionaire Jim Ratcliffe has signed a deal to buy a 25% stake in Manchester United. This is reported by the official website of the English club.
Jim RatcliffeIt is reported that Ratcliffe bought a 25% stake in the club at a price of $33 per share. The businessman plans to invest $300 million in the club over the next two years, and the INEOS group, which Ratcliffe owns, will take over the management of United's football affairs.
The new investment will be used to transfer players, improve the stadium and other infrastructure facilities of the club.
"We are bringing in global knowledge, experience and talent to help further improve the club, while also providing funds earmarked for future investment at Old Trafford," Ratcliffe said.
Ratcliffe's arrival is expected to mark a new beginning for Manchester United, as he has a reputation and experience as a successful businessman in sport. The Briton is also the owner of the French club Nice.
