Manchester United takeover LIVE as Sir Jim Ratcliffe agrees 25 per cent purchase of Man Utd

Manchester United are heading for a change in direction after INEOS founder Sir Jim Ratcliffe agreed a deal with the club to complete his minority investment at Old Trafford - landing him a 25 per cent share.

The 71-year-old British billionaire - who was born in Failsworth and supported United growing up - has stepped on board with the Glazer family. It marks the end of a 13-month-long takeover saga.

Sir Jim initially went head-to-head with Sheikh Jassim in the bidding process. However, the Qatari banker stepped away and withdrew his interest in October.

That left Sir Jim as the sole frontrunner and business has now been struck up by the parties involved. His deal with the Glazer family is thought to be worth around £1.25billion.

Of course, investment has been a hot topic at Old Trafford and beyond in the last 12 months after the Americans outlined plans for a strategic review of their ownership in November 2022. Fast forward to the present and there has now been a firm breakthrough.

Keep tabs on the latest from Old Trafford with our takeover updates below.

Sir Jim Ratcliffe will get first refusal on any further shares that the Glazers wish to sell, according to The Telegraph.

There is no clause in the current agreement that forces the American family to hand over any more control.

A little extra detail on the extra investment into Old Trafford, worth $300m.

The statement from United confirms that $200m of that will be 'paid upon the closing of the transaction', with the final $100m invested by the end of 2024.

Some new board members at United, following the investment of Sir Jim Ratcliffe.

Sky's Rob Harris reporting that there will be four new members overall.

Ratcliffe to delegate seats on Man United PLC board to