Jim Ratcliffe Buys Minority Stake in Manchester United
The British billionaire will invest an additional $300 million into Old Trafford, taking his stake up to 29%, while the Glazers retain a 49% stake.
- British billionaire Jim Ratcliffe has agreed to buy a minority stake in Manchester United, taking charge of the club's soccer operations.
- The deal, worth around $1.6 billion, requires Premier League approval and is expected to take up to 10 weeks to go through.
- Ratcliffe will invest an additional $300 million for future investment into Old Trafford, eventually taking his stake up to 29%.
- The Glazers will retain a 49% stake in the club and are set to earn around £715m from the sale of B shares to Ratcliffe.
- No dividends will be paid for a period of three years, with investment in the team and infrastructure said to be the immediate priority.