Sir Jim Ratcliffe’s purchase of a 25 per cent stake in Manchester United is reportedly set to be announced on Christmas Eve (Peter Byrne/PA)
Sir Jim Ratcliffe’s purchase of a 25 per cent stake in Manchester United is due to be announced later on Christmas Eve, according to a report.
Confirmation of the investment by the 71-year-old’s Ineos Group would end a saga which has lasted more than a year.
Sky News has reported that a deal is set to be announced, 13 months after the club’s United States-based owners the Glazer family revealed their intention to undertake a strategic review of their options, including the possibility of selling up.
Sir Jim Ratcliffe has promised substantial funds to upgrade Old Trafford (Zac Goodwin/PA)
Ratcliffe and Qatari businessman Sheikh Jassim were both in the running to oversee a buyout of the club until October.
Sheikh Jassim withdrew his bid for full control of the club on October 14, with Ratcliffe’s focus shifting to taking a significant minority stake.
Ratcliffe’s Ineos Group is expected to pay in the region of £1.25billion for the share purchase, while also acquiring significant control over footballing operations.
It has also been reported that Ratcliffe is prepared to invest a further £245million to improve the club’s ageing infrastructure.
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Former United defender Gary Neville was less than impressed by the timing of the reportedly imminent announcement.
“Manchester United 2023 has been a disgrace to the end,” he wrote on X.
“The timing of this is truly awful and no functioning
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