Manchester United announced Sunday that British petrochemical billionaire Sir Jim Ratcliffe purchased a 25% stake in the famed English Premier League soccer club.
The sale was confirmed by Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate.
INEOS said in a statement that Ratcliffe will acquire 25% of the club’s Class B shares and up to 25% of its publicly available Class A shares “and provide an additional $300 million intended to enable future investment into Old Trafford,” the club’s historic stadium.
The Glazer family, which owns the majority of the club, and Class A shareholders will receive the same price of $33.00 per share, the club said. On Friday, shares of Manchester United (MANU) closed at $19.81.
In May, Forbes valued Manchester United at $6 billion, just behind Real Madrid as the world’s most valuable soccer club. Shares of Manchester United had been down nearly 13% in 2023.
The deal still requires approval from the English Premier League.
