Businessman Jim Ratcliffe bought a 25% stake in Manchester United for $1.52 billion

British billionaire Jim Ratcliffe, owner of the chemical giant Ineos, has bought a 25% stake in the English football club Manchester United. This is reported on website club.

25% of class B shares were purchased by Jim Ratcliffe’s company Trawlers Limited. In addition, the company also agreed to purchase up to 25% of class A shares. The transaction amount was 1.2 billion pounds sterling ($1.52 billion).

“As a local resident and lifelong supporter of the club, I am delighted that we have been able to reach an agreement with the Manchester United board to hand over the management of the club’s operations to us… We will leverage the global knowledge, experience and talent across Ineos Sport to contribute to further improvements at the club,” Jim Ratcliffe was quoted as saying in the press release.

The businessman is also investing $300 million in the infrastructure of the Old Trafford stadium. Of this amount, $200 million will be paid upon closing of the transaction, and another $100 million by the end of 2024. Ineos will receive the right to manage Manchester United’s football operations.

Previously, the sole owners of Manchester United shares were the Glazer family, who bought the club in 2005 for $1.34 billion. Billionaire Malcolm Glazer died in 2014 at the age of 85, after which the club was passed on to his sons.

Anastasia Larina