British billionaire Sir Jim Ratcliffe is set to acquire a 25% stake in Manchester United, with the club hoping to announce the deal during the international break which begins next week. The chairman and CEO of chemical company INEOS, Ratcliffe invested around £1.25 billion in exchange for his stake in the club.
According to multiple sources, Ratcliffe is expected to receive control over the soccer side of the business, with INEOS director of sport Sir Dave Brailsford also expected to be involved.
Over a year ago, the Glazer family announced their decision to explore the sale of Man United. This prompted a bidding war between Sir Jim Ratcliffe and Qatari businessman Sheikh Jassim Bin Hamad Al Thani, with both parties submitting bids of around £5 billion in an effort to acquire full ownership of the club.